Problem 2

Michigan Company acquired a machine on January 1, 2021 that cost $2,700 and had an estimated residual value of $200. Complete the following schedule using the three methods of depreciation: A.) straight-line, B.) units-of-production, C.) double declining-balance.

Method	Estimated Useful Life	Depreciation Expense for 2022	Accumulated Depreciation 12/31/2022
A. Straight Line	5 years
B. Units of Production	10,000 units (total) 1,000 units (20X1's actual) 1,200 units (20X2's actual)
C. Declining Balance	5 years