Answered step by step
Verified Expert Solution
Question
1 Approved Answer
just answers Moyle Co. acquired a machine on January 1, 2019, at a cost of $1,800,000. The machine is expected to have a five-year useful
just answers
Moyle Co. acquired a machine on January 1, 2019, at a cost of $1,800,000. The machine is expected to have a five-year useful life with a salvage value of $105,000. The machine is capable of producing 1.590,000 units of product in its lifetime. Actual production was as follows: 318,000 units in 2019, 212,000 units in 2020, 424,000 units in 2021 265.000 units in 2022; and 371,000 units in 2023, Acumulated Depreciation Accumulated Depreciation 720,000 12/31/19 339.000 12/31/19 432,000 12/31/20 339,000 12/31/20 259,200 12/31/21 339,000 12/31/2 155.520 12/31/22 339,000 12/31/22 93,12 12/31/23 239,000 12/31/23 b. Acculated Depreciation Accumulated Depreciation 339,000 12/31/19 540,000 12731719 226,000 12/31/20 378,000 12/31/20 452,000 12/31/21 264,600 12/31/21 282,500 12/31/22 105,230 12/31/22 395,500 12/31/23 129,654 12/31/23 Required: Refer to the above T-accounts, identify the depreciation method that would result in each of the following annual credit amount patterns to accumulated depreciation. If a declining-balance method is used, indicate the percentage (150% or 200%). (Hint What do the amounts shown for each year represent?) Event Depreciation method b C Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started