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Strong Metals Incorporated purchased a new stamping machine at the beginning of the year at a cost of $1,615,000. The estimated residual value was $85,000.
Strong Metals Incorporated purchased a new stamping machine at the beginning of the year at a cost of $1,615,000. The estimated residual value was $85,000. 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.
Straight-line.
Units-of-production.
Double-declining-balance.
Complete this question by entering your answers in the tabs below. Complete a depreciation schedule using the straight-line method. Complete this question by entering your answers in the tabs below. Complete a depreciation schedule using the units-of-production method. Note: Use two decimal places for the per unit output factor. Complete this question by entering your answers in the tabs below. Complete a depreciation schedule using the double-declining-balance method
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