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Need help ASAP. Thank you in advance. On January 1, 2015, a machine was purchased for $99, 900. The machine has an estimated salvage value
Need help ASAP. Thank you in advance.
On January 1, 2015, a machine was purchased for $99, 900. The machine has an estimated salvage value of $6, 660 and an estimated useful life of 5 years. The machine can operate for 111,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2015, 22, 200 hrs: 2016, 27, 750 hrs: 2017, 16, 650 hrs: 2018, 33, 300 hrs: and 2019, 11, 100 hrs. Assume a fiscal year-end of September 30. Compute the annual depreciation charges over the asset's life applying each of the following methods. (Round answers to 0 decimal places, e.g. 45, 892.) Year Straight-line Method Sum-of-the-years'-digits method Double-declining-balance method 2015 $ _____ $ _____ $ ______ 2016 _____ _____ ______ 2017 _____ _______ ______ 2018 ______ _______ ______ 2019 ______ ______ ______ 2020 ______ ______ ______Step by Step Solution
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