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Pharoah Ltd. purchased a new machine an A pril 4,2020, at a cost of $190,000. The company estimated that the machine would have a residual
Pharoah Ltd. purchased a new machine an A pril 4,2020, at a cost of $190,000. The company estimated that the machine would have a residual value of $16,000. The machine is expected to be used for 10,000 wrorkina hours during its four-year life. Actual machine usage was 1,500 hours in 2020; 2,200 hours in 2021; 2,500 hours in 2022; 2,000 hours in 2023; and 1,900 hours in 2024. Pharoah has a December 31 year end. (a) Calculate depreciation for the machine under each of the following methods: (Round expense per unit to 2 decimal places, e.g. 2.75 and final answers to 0 decimal places, e. \&. 5,275.) (1) Straight-line for 2020 throush to 2024. (2) Diminishing-balance using double the straight-line rate for 2020 throush to 2024 . (3) Units-af-aroduction for 2020 throush to 2024
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