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Strong Metals Inc. purchased a new stamping machine at the beginning of the year at a cost of $997,500. The estimated residual value was $52,500.
Strong Metals Inc. purchased a new stamping machine at the beginning of the year at a cost of $997,500. The estimated residual value was $52,500. 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 i 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. Complete this question by entering your answers in the tabs below. Req 1A Complete a depreciation schedule using the straight-line method. Year At acquisition Depreciation Expense Accumulated Depreciation Net Book Value Req 1B Complete a depreciation schedule using the units-of-production method. (Use two decimal places for the per unit output factor.) Year Depreciation Expense Accumulated Depreciation Net Book Value At acquisition Req 1C Complete a depreciation schedule using the double-declining-balance method. (Do not round your intermediate calculations.) Year Depreciation Expense Accumulated Depreciation Net Book Value At acquisition
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