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Sketches inc. purchased a machine on january 1 2016. The cost of the machine was $30,500. Its estimated residual value was $9,500 at the end
Sketches inc. purchased a machine on january 1 2016. The cost of the machine was $30,500. Its estimated residual value was $9,500 at the end of an estimated 5 year life. The company expects to produce a total of 10,000 units. The company produced 1,150units in 2016 and 1,600 units in 2017.
A.) Calculate depreciation expense for 2016 and 2017 using straight line method.
B.)Calculate depreciation expense for 2016 and 2017 using units of production method.
C.) Calculate depreciation expense for 2016 through 2020 the using double declining balance method.
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