Module 5: Depreciation Using the information below, determine the depreciation of the machinery using Straight Line Depreciation, Units of Production, and Double Declining Balance. Then complete the journal entry for the 1st year of use for each method. Depreciation will be recorded for the year on December 31. Use the Excel template provided in Blackboard. Straight Line Depreciation: Cost- Salvage Value Units of Production: Cost- Salvage Value Units in Year 1 Depreciation per Year 1 Equipment Purchase Price Useful Life Salvage Value Years Units $75,000 5 years or 95,000 units $8,500 Depreciation per Year Depreciation per Unit 25,000 units in Year 1

Using the information below, determine the depreciation of the machinery using Straight Line Depreciation, Units of Production, and Double Declining Balance. Then complete the journal entry for the 1st year of use for each method, Depreciation will be recorded for the year on December 31. Use the Excel template provided in Blackboard. sing the information below, determine the depreciation of the machinery using Straight Line Depreciation, Units of roduction, and Double Declining Balance. Then complete the journal entry for the Ist year of use for each method, epreciation will be recorded for the year on December 31. Use the Excel template provided in Blackboard