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just the first through the 3rd are the same thing as the graph on the screen Solar Innovations Corporation bought a machine at the beginning
just the first through the 3rd are the same thing as the graph on the screen
Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $32,000. The estimated useful life was five years and the residual value was $4,000. Assume that the estimated productive life of the machine is 10,000 units. Expected annual production was year 1, 2,100 units; year 2, 3100 units; year 3, 2,100 units; year 4, 2,100 units; and year 5, 600 units Required: 1. Complete a depreciation schedule for each of the alternative method:s a. Straight-line b. Units-of-production. c. Double-declining-balance 2. Which method will result in the highest net income in year 2? Does this higher net income mean the machine was used more efficiently under this depreciation method? Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 2A Req 2B Complete a depreciation schedule for Units-of-production method. (Do not round intermediate calculations.) Income Statement Balance Sheet Depreciation Expense Accumulated Year Cost Depreciation Book Value At acquisition $32,000 24,545 2,100 $ 7,455 $ 7,455Step by Step Solution
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