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Solve the following: Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $41,000. The estimated useful life was
Solve the following:
Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $41,000. The estimated useful life was five years and the residual value was $4.000. Assume that the estimated productive life of the machine is 10,000 units Expected annual production for year 1, 2,000 units, year 2 3,000 units, year 3, 2,000 units, year 4, 2.000 units, and year 5. 1.000 units Required 1. Complete a depreciation schedule for each of the alternative methods. (Do not round intermediate calculations.) a. Straight-line. Income Statement Balance Sheet Year Depreciation Accumulated Book Value Cost xpense Depreciation At acquisition S 7,400$ 41,000 $7400 14,800 22.200 29,600 37,000 7.400 7,400 7,400 7,400 41,000 1,000 41,000 41,000 S 41,000 33,600 26,200 18,800 11.400 4.000 b Units-of-production Balance Sheet Statement Depreciation xpense Accumulated Book Value Depreciation Year At acquisition
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