Question
On June 9, 2020, Oriole Company purchased manufacturing equipment at a cost of $322,600. Oriole estimated that the equipment will produce 560,000 units over its
On June 9, 2020, Oriole Company purchased manufacturing equipment at a cost of $322,600. Oriole estimated that the equipment will produce 560,000 units over its 4-year useful life, and have a residual value of $14,600. The company has a December 31 fiscal year end and has a policy of recording a half-year's depreciation in the year of acquisition.
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Calculate depreciation under the straight-line method for 2020 and 2021.
Depreciation Expense | ||
2020 | $ | |
2021 | $ |
eTextbook and Media
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Calculate the depreciation expense under the double diminishing-balance method for 2020 and 2021.
Depreciation Expense | ||
2020 | $ | |
2021 | $ |
eTextbook and Media
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Calculate the depreciation expense under the units-of-production method, assuming the actual number of units produced was 70,700 in 2020 and 118,200 in 2021. (Round cost per unit to 2 decimal places, e.g. 5.27 and round final answers to 0 decimal places, e.g. 5,275.)
Depreciation Expense | ||
2020 | $ | |
2021 | $ |
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