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Strong Metals Inc. purchased a new stamping machine at the beginning of the year at a cost of $1,045,000. The estimated residual value was $55,000.
Strong Metals Inc. purchased a new stamping machine at the beginning of the year at a cost of $1,045,000. The estimated residual value was $55,000. 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.
Reg 1A Reg 1B Req 1C Complete a depreciation schedule using the straight-line method. Year Depreciation Accumulated Net Expense Depreciation Book Value At acquisition 1 2 3 4 5 Reg 1A Reg 13 Reg 10 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 1 2 3 4 5 Reg 1A Reg 13 Reg 10 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 1 2 3 5Step by Step Solution
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