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PLEASE HELP 3. Depreciation methods. On April 1, 2018, Sparks Company purchased for $860,000 machinery (equipment) having an estimated useful life of 10 years with
PLEASE HELP
3. Depreciation methods. On April 1, 2018, Sparks Company purchased for $860,000 machinery (equipment) having an estimated useful life of 10 years with an estimated salvage value of $60,000 and 500,000 units expected to be produced. Depreciation is taken for the portion of the year the asset is used. Instructions (a) Complete the form below by determining the depreciation expense and year-end book values for 2018 and 2019 using the 1. Straight Line Method 2. Production assuming 48,000 units produced in 2018 and 60,000 in 2019. 3. Double-declining balance method. Note: SHOW ALL CALCULATIONS and ROUND TO WHOLE DOLLAR WHEN NECESSARY. 2018 2019 Book Value Book Value Depreciation Expense Depreciation Expense Straight Line method Production method Double-Declining methodStep by Step Solution
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