Question 4 of 5 - /20 View Policies Current Attempt in Progress In recent years, Ivanhoe 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. Machine Acquired Jan. 1. 2015 July 1, 2016 Nov. 1, 2016 1 Cost $135,500 80,000 77,600 Salvage Value $25,500 11.400 8,600 Useful Life (in years) 10 5 Depreciation Method Straight-line Declining-balance Units-of-activity 2 3 7 For the declining-balance method, Ivanhoe Company uses the double-declining rate. For the units-of-activity method, total machine hours are expected to be 34,500. Actual hours of use in the first 3 years were: 2016, 860; 2017.5.000; and 2018,6,500. Compute the amount of accumulated depreciation on each machine at December 31, 2018. MACHINE 1 MACHINE 2 MACHINE 3 Accumulated Depreciation at December 31 $ 44,000 $ $ uestion 4 of 5 - /20 Compute the amount of accumulated depreciation on each machine at December 31, 2018, MACHINE 2 MACHINE 3 Accumulated Depreciation at December 31 MACHINE 1 44,000 $ $ If machine 2 was purchased on April 1 instead of July 1, what would be the depreciation expense for this machine in 2016? In 2017? 2016 2017 Depreciation Expense $ Attempts: 0 of 1 used Submit Answer Save for Later Last saved 10 minutes ago. Saved work will be auto-submitted on the due date