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Required Information [The following Information applies to the questions displayed below.] Schrade Company bought a machine for $116,000 cash. The estimated useful life was
Required Information [The following Information applies to the questions displayed below.] Schrade Company bought a machine for $116,000 cash. The estimated useful life was four years and the estimated residual value was $5,500. Assume that the estimated useful life in productive units is 130,000. Units actually produced were 53,000 in year 1 and 55,000 in year 2. Required: 1. Determine the appropriate amounts to complete the following schedule. (Round your answers to the nearest dollar amount. Do not round Intermediate calculations.) Method of Depreciation Year 1 Depreciation Expense for Year 2 Net Book Value at the End of Year 1 Year 2 Straight-line Units-of-production Double-declining-balance
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