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On October 1, 2018, the Allegheny Corporation purchased machinery for $191,000. The estimated service life of the machinery is 10 years and the estimated residual
On October 1, 2018, the Allegheny Corporation purchased machinery for $191,000. The estimated service life of the machinery is 10 years and the estimated residual value is $4,000. The machine is expected to produce 340,000 units during its life Required: Calculate depreciation for 2018 and 2019 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service 1. Straight line 2. Sum-of-the-years'-digits 3. Double-declining balance 4. One hundred fifty percent declining balance 5. Units of production (units produced in 2018, 17,000; units produced in 2019, 32,000) Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3 Required 4 Required 5 Calculate depreciation for 2018 and 2019 using straight line method. Partial-year depreciation is calculated based on the number of months the asset is in service Straight-Line Depreciation Choose Numerator:Choose Denominator: Annual Depreciation Cost minus Salvage | / Estimated Useful Life (years) Annual Depreciation Depreciation Expense Year Annual Depreciation x 2018 2019 Fraction of Year
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