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Strong Metals Incorporated purchased a new stamping machine at the beginning of the year at a cost of $1,805,000. The estimated residual value was
Strong Metals Incorporated purchased a new stamping machine at the beginning of the year at a cost of $1,805,000. The estimated residual value was $95,000. 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. > Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Complete a depreciation schedule using the units-of-production method. Note: Use two decimal places for the per unit output factor. Year At acquisition Depreciation Expense Accumulated Depreciation Net Book Value 1 $ 399,000 $ 399,000 $ 1,406,000 2 $ 381,900 $ 780,900 $ 1,023,100 3 $ 285,000 $ 1,065,900 $ 738,100 4 $ 416,100 $ 1,482,000 $ 322,000 x 5 $ 228,000 $ 1,710,000 $ 95,000 a. Straight-line. b. Units-of-production. c. Double-declining-balance. > Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Complete a depreciation schedule using the double-declining-balance method. Year At acquisition Depreciation Expense Accumulated Depreciation Net Book Value 1 $ 722,000 $ 722,000 $1,083,000 2 $ 534,800 $ 1,256,800 $ 548,200 3 $ 320,880 $ 1,577,680 $ 227,320 4 $ 192,528 $ 1,770,208 $ 34,792 x 5 $ 115,518 $ 1,885,726 $ 0
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