Question
Kingbird, Inc. purchased a new machine on October 1, 2022 at a cost of $395,200. The company estimated that the machine has a salvage value
Kingbird, Inc. purchased a new machine on October 1, 2022 at a cost of $395,200. The company estimated that the machine has a salvage value of $30,400. The machine is expected to be used for 304,000 working hours during its 8-year life. Compute depreciation using the following methods in the year indicated. Straight-line for 2022 and 2023, assuming a December 31 year-end. (Round answers to 0 decimal place, e.g. 1520.) 2022 2023 Straight-line method $enter a dollar amount 11400 $enter a dollar amount 45600 Declining-balance using double the straight-line rate for 2022 and 2023. 2022 2023 Declining-balance method $enter a dollar amount 24700 $enter a dollar amount 92625 Units-of-activity for 2022, assuming machine usage was 11,020 hours. (Round depreciation per unit to the nearest cent.) Units-of-activity method 2022 $enter depreciation using the Units-of-activity method for 2017 in dollars rounded to the nearest cent
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