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Problem 8-30A (Algo) Calculating depreciation expense using four different methods LO 8-2, 8-3, 8-4, 8-6 Banko Incorporated manufactures sporting goods. The following information applies to
Problem 8-30A (Algo) Calculating depreciation expense using four different methods LO 8-2, 8-3, 8-4, 8-6 Banko Incorporated manufactures sporting goods. The following information applies to a machine purchased on January 1. Year 1. During Year 1 , the machine produced 44,000 units, and during Year 2 it produced 46,000 units. Required a. Determine the amount of depreciation expense for Year 1 and Year 2 using straight-line method. b. Determine the amount of depreciation expense for Year 1 and Year 2 using double-declining-balance method. c. Determine the amount of depreciation expense for Year 1 and Year 2 using units of production method. d. Determine the amount of depreciation expense for Year 1 and Year 2 using MACRS, assuming that the machine is classified as seven-year property. (Round your answers to the nearest dollar amount.) MACRS table
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