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Problem 9-08A (Part Level Submission) In recent years, Oriole Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different
Problem 9-08A (Part Level Submission) In recent years, Oriole Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Useful Life (in years) Depreciation Method Machine Acquired Jan. 1, 2020 July 1, 2021 Nov. 1, 2021 Straight-line Salvage Value $52,500 11,800 7,900 Cost $132,500 91,000 71,900 5 Declining-balance Units-of-activity For the declining-balance method, Oriole Company uses the double-declining rate. For the units-of-activity method, total machine hours are expected to be 32,000. Actual hours of use in the first 3 years were: 2021, 680; 2022, 6,400; and 2023, 7,600. (a) Compute the amount of accumulated depreciation on each machine at December 31, 2023. MACHINE 1 MACHINE 2 MACHINE 3 Accumulated Depreciation at December 31 $
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