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Sushi Corporation bought a machine at the beginning of the year at a cost of $31,000. The estimated useful life was five years and
Sushi Corporation bought a machine at the beginning of the year at a cost of $31,000. The estimated useful life was five years and the residual value was $2,000. Assume the estimated productive life of the machine is 14,500 units. Expected annual production was year 1, 2,900 units; year 2, 3,900 units; year 3, 2,900 units; year 4, 2,900 units; and year 5, 1,900 units. Required: 1. Complete a depreciation schedule for the units-of-production method. 2. Prepare the journal entry to record Year 2 depreciation. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete a depreciation schedule for the units-of-production method. (Do not round intermediate calculations. Round final answers to the nearest whole dollars.) Income Statement Balance Sheet Year Depreciation Expense Cost Accumulated Depreciation Book Value At acquisition 1 2 3 4 5
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