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please answer the Diminsihing-balance depreciation. URGENT!!! In recent years, Oriole Corporation has purchased three machines. Because of frequent employee turnover in the accounting department, a
please answer the Diminsihing-balance depreciation. URGENT!!!
In recent years, Oriole Corporation has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Machine Cost Residual Value Useful Life (in years) 1 Acquired Jan 1, 2022 July 1, 2023 $91,000 $12.700 5 Depreciation Method Straight-line Diminishing-balance 2 86,250 9.250 5 3 Nov. 1, 2023 58,287 6,330 6 Units-of-groduction Machine 2: Diminishing-balance depreciation Calculation Year Carrying Amount Beg. of Year Depreciation Rate #of months AI Depreciation Expense 2023 $ 86.250 40 % 6/12 $ 3450 $ 2024 82800 40 % 12/12 3312 2025 79488 40 % 12/12 3180 2026 76308 40 % 96 12/12 3052 2027 73256 20 % 3/12 Machine 2: Diminishing-balance depreciation Calculation End of Year reciation Rate # of months Depreciation Expense Accumulated Depreciation Carrying Amount 40 % 6 6/12 $ 3450 $ 3450 $ 82800 40 % 12/12 3312 6762 79488 40 96 12/12 3180 9942 76308 40 % 12/12 3052 12994 13306 20 % 22 3/12 69017 7983 Step by Step Solution
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