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Schrade Company bought a machine for $115,000 cash. The estimated useful life was four years, and the estimated residual value was $6,640. Assume that the
Schrade Company bought a machine for $115,000 cash. The estimated useful life was four years, and the estimated residual value was $6,640. Assume that the estimated useful life in productive units is 129,000. Units actually produced were 52,000 in year 1 and 54,000 in year 2.
. | Determine the appropriate amounts to complete the following schedule. (Round your answers to the nearest dollar amount. Do not round intermediate calculations.) |
Depreciation expense for | Notebook value at the end of | |||
method of depreciation | Year 1 | Year 2 | Year 1 | Year 2 |
straight lines | ||||
units of production | ||||
double declining balance |
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