Question
On January 1, 2018, a machine was purchased for $125,000. The machine has an estimated salvage value of $7,880 and an estimated useful life of
On January 1, 2018, a machine was purchased for $125,000. The machine has an estimated salvage value of $7,880 and an estimated useful life of 5 years. The machine can operate for 122,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2018, 24,400 hrs; 2019, 30,500 hrs; 2020, 18,300 hrs; 2021, 36,600 hrs; and 2022, 12,200 hrs. 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.)
Year | Straight-line Method | Sum-of-the-years'-digits method | Double-declining-balance method | |||
2018 | $ ? | $ ? | $ ? | |||
2019 | 23424 | ? | ? | |||
2020 | 23424 | ? | ? | |||
2021 | 23424 | ? | ? | |||
2022 | 23434 | ? | ? | |||
2023 | ? | ? | ? |
I already posted this once and I was given the wrong awnsers
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