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Strong Metals Inc. purchased a new stamping machine at the beginning of the year at a cost of $1,000,000. The estimated residual value was $92,800.
Strong Metals Inc. purchased a new stamping machine at the beginning of the year at a cost of $1,000,000. The estimated residual value was $92,800. Assume that the estimated useful life was five years, and the estimated productive life of the machine was 324,000 units. Actual annual production was as follows:
Year | Units |
1 | 86,000 |
2 | 74,000 |
3 | 41,000 |
4 | 69,000 |
5 | 54,000 |
|
Required:
1. Complete a separate depreciation schedule for each of the alternative methods. (Do not round your intermediate calculations.)
a. Straight-line.
b. Units-of-production.
c. Double-declining-balance.
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