Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help On January 1, 2018, the Allegheny Corporation purchased machinery for $170,000. The estimated service life of the machinery is 10 years and the

please help image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
On January 1, 2018, the Allegheny Corporation purchased machinery for $170,000. The estimated service life of the machinery is 10 years and the estimated residual value is $5,000. The machine is expected to produce 300,000 units during its life. Required: Calculate depreciation for 2018 and 2019 using each of the following methods. 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, 45,000; units produced in 2019, 40,000) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required s Calculate depreciation for 2018 and 2019 using straight line method. Straight-Line Deprociation Choose Numerator:Choose Denominator Annual Depreciation Expense Depreciation Expense Depreciation Expense 2018 2019 Required 2 > Calculate depreciation for 2018 and 2019 using sum-of-the-years' digits. Sum-of-the-years' digits depreciation Depreciable Base Rate perDepreciation Year Expense 2018 2019 Required 1 Required 2Required 3 Required 4 Required 5 Calculate depreciation for 2018 and 2019 using double-declining balance. Depreciation for the Period End of Period Annual Period Period Book Depreciation Depreciation A 2018 2019 Beginning of Accumulated Book Value Rate (%) Expense Depreciation Value K Required 2 Required 4> Required 1 Required 2 Required 3-1 Required 4 E Required 5 Calculate depreciation for 2018 and 2019 using one hundred fifty percent declining balance Depreciation for the Period End of Period Beginning of Annual Period Period Book Depreciation Depreciation Accumulated Book Value Expense Depreciation Rate Value 2018 2019

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

Step: 3

blur-text-image

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

Managerial Accounting

Authors: Unknown Author

1st Edition

007723023X, 978-0077230234

More Books

Students also viewed these Accounting questions

Question

Find dy/dx if x = te, y = 2t2 +1

Answered: 1 week ago

Question

5. How would you describe your typical day at work?

Answered: 1 week ago

Question

7. What qualities do you see as necessary for your line of work?

Answered: 1 week ago