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On January 2, 20x1, Riverside Company purchased a machine for $80,000. The machine has an eight-year estimated useful life and an $8,000 estimated residual value.
On January 2, 20x1, Riverside Company purchased a machine for $80,000. The machine has an eight-year estimated useful life and an $8,000 estimated residual value. In addition, the company expects to use the machine 200,000 hours. Assuming that the machine was used 35,000 hours during 20x2, complete the following chart. If a figure cannot be determined, indicate so by placing an X in the box. (Show your work)
Method | Depreciation Expense | Carrying Value |
Straight Line | ||
Production | ||
Double Decline |
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