Question
Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $22,000. The estimated useful life was five years and
Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $22,000. The estimated useful life was five years and the residual value was $2,000. Assume that the estimated productive life of the machine is 10,000 units. Expected annual production for year 1, 2,000 units; year 2, 3,000 units; year 3, 2,000 units; year 4, 2,000 units; and year 5, 1,000 units.
*MISSING ONLY 3 NUMBERS... ALL THE OTHER NUMERS IN THE CHART BELOW ARE CORRECT. THIS HAS ALREADY BEEN POSTED ON CHEGG BUT THE 3 REMAINING ARE WRONG ON THE WEBSITE. *
c. Double-declining-balance Income Statement Balance Sheet Depreciation Expense Accumulated Depreciation Year Cost Book Value $ 22,000 8,80013,200 4,080$ 7,920 17,248 $ 4,752 At acquisition 8,800$ 5,280 $ 3,168 $ 1,900 $ 22,000 $ 22,000 $ 22,000 $ 22,000 22,000 $ 17,248 $ 4752 4 20,000$ 2,000
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