Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Pina Manufacturing purchased a machine on January 1, 2017 for use in its factory. Pina paid $174,000 for the machine and estimated that it had

image text in transcribed
Pina Manufacturing purchased a machine on January 1, 2017 for use in its factory. Pina paid $174,000 for the machine and estimated that it had a useful life of 6 years, at the end of which time the machine was expected to have a residual value of $30,000. During its life, the machine was expected to produce 240,000 units. During 2017, the machine produced 28, 200 units, and produced 37, 800 in 2018. The machine was subject to a 20% CCA rate, and Pina's year-end was December 31. Calculate the annual depreciation amount for 2017 and 2018 under the straight-line method (Round answers to o decimal places, e.g. 5, 275.) Calculate the annual depreciation amount for 2017 and 2018 under the activity method. (Round per unit value to 2 decimal places e.g. 5.75 and final answers to 0 decimal places, e.g. 5, 275.) Calculate the annual depreciation amount for 2017 and 2018 under the double-declining balance method. (Round answers to 0 decimal places, e.g. 5, 275.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Culture Audits Supporting Organizational Success Information Line

Authors: Cynthia Solomon

1st Edition

156286386X, 978-1562863869

More Books

Students also viewed these Accounting questions