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On January 1, 2018, a machine was purchased for $95,000. The machine has an estimated salvage value of $7,280 and an estimated useful life of
On January 1, 2018, a machine was purchased for $95,000. The machine has an estimated salvage value of $7,280 and an estimated useful life of 5 years. The machine can operate for 102,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2018, 20,400 hrs; 2019, 25,500 hrs; 2020, 15,300 hrs; 2021, 30,600 hrs; and 2022, 10,200 hrs. Compute the annual depreciation charges over the machine's life assuming December 31 year-end for each of the following depreciation methods. (Round answers to o decimal places, e.g. 45,892.) 1. Straight-line Method 2. Activity Method Year 2018 2019 $ $1 si 2020 2021 $ 2022 $ 3. Sum-of-the-Years'-Digits Method Year 2018 $ 2019 $ 2020 $ 2021 2022 4. Double-Declining-Balance Method Year 2018 $ 2019 $ 2020 $ 2021 $ 2022 $ LINK TO TEXT 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 2018 $ 2019 2020 2021 2022 2023
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