Question
On January 1, 2015, a machine was purchased for $102,600. The machine has an estimated salvage value of $6,840 and an estimated useful life of
On January 1, 2015, a machine was purchased for $102,600. The machine has an estimated salvage value of $6,840 and an estimated useful life of 5 years. The machine can operate for 114,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2015, 22,800 hrs; 2016, 28,500 hrs; 2017, 17,100 hrs; 2018, 34,200 hrs; and 2019, 11,400 hrs.
B. ssume a fiscal year-end of September 30. Compute the annual depreciation charges over the assets life applying each of the following methods. (Round answers to 0 decimal places, e.g. 45,892.)
Assume a fiscal year-end of September 30. Compute the annual depreciation charges over the assets life applying each of the following methods. (Round answers to 0 decimal places, e.g. 45,892.)
Your answer is partially correct. 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 O decimal places, e.g. 45,892.) Year Straight-line Method Sum-of-the-years'-digits method Double-declining-balance method 2015 $ 61560 30828 23,940 19,152 28,773 2016 27132 2017 19,152 20748 17,264 2018 19,152 14,364 10,358 19,152 2019 7,980 6,215 4788 2020 1,596 2,483 LAStep by Step Solution
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