Question
Sterling Steel Inc. purchased a new stamping machine at the beginning of the year at a cost of $620,000. The estimated residual value was $69,800.
Sterling Steel Inc. purchased a new stamping machine at the beginning of the year at a cost of $620,000. The estimated residual value was $69,800. Assume that the estimated useful life was five years, and the estimated productive life of the machine was 262,000 units. Actual annual production was as follows:
Year Units
1. 75,000
2. 64,000
3. 32,000
4. 55,000
5. 36,000
Required: 1. Complete a separate depreciation schedule for each of the alternative methods. (Round your answers to the nearest dollar amount. Do not round your intermediate calculations.
a. | Straight-line.
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