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The details of the January 1, 2020 purchase of property, plant & equipment by Concord Industries is as follows: Cost Residual Value Useful Life Depreciation
The details of the January 1, 2020 purchase of property, plant & equipment by Concord Industries is as follows:
Cost | Residual Value | Useful Life | Depreciation Method | |||||
Machinery | $1,466,000 | $106,000 | 1 million units | Activity Method | ||||
Building | $647,000 | $77,000 | 30 years | Straight line | ||||
Computer | $202,500 | $11,000 | 5 years | Double-Declining-Balance |
During 2020 Concord produced 150,000 units using its machinery. Calculate the 2020 depreciation for each of the property, plant & equipment items. (Round depreciation per unit to 2 decimal places, e.g. 7.25 and final answers to 0 decimal places, e.g. 5,125.)
2020 Depreciation Expense | ||
Machinery Equipment | $ | |
Building | $ | |
Computer Equipment | $ |
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