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Strong Metals Inc. purchased a new stamping machine at the beginning of the year at a cost of $1,282,500. The estimated residual value was $67,500.
Strong Metals Inc. purchased a new stamping machine at the beginning of the year at a cost of $1,282,500. The estimated residual value was $67,500. Assume that the estimated useful life was five years and the estimated productive life of the machine was 300,000 units. Actual annual production was as follows: Year Units 1 70,000 2 67,000 3 50,000 4 73,000 5 40,000 Required: 1. Complete a separate depreciation schedule for each of the alternative methods. a. Straight-line. b. Units-of-production. c. Double-declining-balance. > Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 1C Complete a depreciation schedule using the double-declining-balance method. (Do not round your intermediate calculations.) Net Year Depreciation Accumulated Expense Depreciation Book Value At acquisition 1 S 513,000 $ 2 S 3 S 4 S 5 S 513,000 $ 307,800 S 820,800 $ $ 184,680 S 1,005,480 $ $ 110,808 66,485 S 1,116,288 $ S 1,182,773 769,500 461,700 277,020 166,212 $ 99,727 X
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