Jared Industries Ltd., a public company, presents you with the following information:

Description

1. Date Purchased

2. Cost

3. Residual Value

4. Life in Years

5. Depreciation Method

6.Accumulated Depreciation to Dec. 31, 2020

7. Depreciation for 2021

Machine A

1. Dec. 2, 2019

2. $142,500

3. $16,000

4. 10

5. (a)

6. $39,900

7. (b)

Machine B

1. Aug. 15, 2018

2. (c)

3. 21,000

4. 5

5. Straight-line

6. 29,000

7. (c)

Machine C

1. July 21, 2017

2. 75,400

3. 23,500

4. 8

5. Double-declining-balance

6. (e)

7. (f)

Required

1.Complete the table for the year ended December 31, 2021. The company depreciates all assets for a half year in the year of acquisition and the year of disposal.

2.What criteria would you consider in determining whether to select the straight-line or double-declining-balance method?