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Strong Metals 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.
Strong Metals 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. (Do not round your intermediate calculations.)
a. Straight-line.
b. Units-of-production.
c. Double-declining-balance.
Year At acquisition Depreciation Accumulated Net Expense Depreciation Book ValueStep by Step Solution
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