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plz provide correct ans only one attempt.left Sheridan Limited purchased a machine on account on April 1, 2021, at an invoice price of $ 374,390.
plz provide correct ans only one attempt.left
Sheridan Limited purchased a machine on account on April 1, 2021, at an invoice price of $ 374,390. On April 2. it paid $ 1.940 for delivery of the machine. A one-year. $ 3.750 insurance policy on the machine was purchased on April 5. On April 19. Sheridan paid $ 8.320 for installation and testing of the machine. The machine was ready for use on April 30. Sheridan estimates the machine's useful life will be five years or 6.256 units with a residual value of $ 74.750. Assume the machine produces the following numbers of units each year: 985 units in 2021: 1.546 units in 2022: 1,288 units in 2023: 1,852 units in 2024; and 1,085 units in 2025. Sheridan has a December 31 year end. CO Whentermine the cost of thamachine mache machine book and vedle Attempts of used Calculate the annual depreciation and total depreciation over the asset's life using: (Round the depreciation cost per unit to 2 decimal places. Round answers to O decimal places, eg. 5 275) (1) Straight-line method reciable Amount Depreciation Expense Accumulated Depreciation Carrying Amount 309900 41020 943230 309900 103000 281050 2498790 309900 07260 167290 309900 2900 05010 0750 000 300 (2) Double-diminishing-balance method ening Carrying Amount Depreciation Expense Accumulated Depreciation Carrying Amount $ $ 384 384650 I 2017= 74 74 (3) Units-of-production method Units-of-production Depreciation Expense Accumulated Depreciation Carrying Amount 925 48796 $ 48796 33585 76588 125084 25926 189191 12543 1353 6978 256169 OM 7475 1985 Which method causes net income to be lower in the early years of the asset's life; units---------- Wathed
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