this is one question
(1 of 3) Background: On April 14t, 2016, Max Full Co. acquired Machinery at a cost of 564,000 that was expected to last ten years, with a residual value of $4,000. Max Full Co. practices Straight-Line Depreciation. Required: Calculate the Depreciation Expense on the Machinery for the year ending December 31, 2016. Input your answer in the box below. DO NOT INCLUDE A DOLLAR (\$) SIGN OR A COMMA (.) AND ROUND TO THE NEAREST DOLLAR. (EG: 100000) Depreciation Expense for the year ending December 31, 2016: (2 of 3) Background, NEW FACTS: On January 1st, 2016, Minute Co. acquired Machinery at a cost of $64,000 that was expected to last five years, with a residual value of $12,000. Minute Co. practices Double-Declining Depreciation. Required: Using the correct depreciation rate of 40%, calculate the Depreciation Expense, Accumulated Depreciation, and Ending Book Value by completing the table below. ROUND ALL NUMBERS TO THE NEAREST DOLLAR. DO NOT INCLUDE A DOLLAR (\$) SIGN OR A COMMA (.) AND ROUND TO THE NEAREST DOLLAR. EG: 100000 (3 of 3) Background, NEW FACTS: MikeMann Co purchased Machinery for $64,000 on January 1st, 2016. On that date the residual value was $4,000 and the Machinery's useful life was estimated to be 10 years. MikeMann practices Straight-Line Depreciation. What if ASSUME ACCUMMULATED DEPRECIATION as at December 31, 2019 was CORRECTLY calculated at $40,000 (or $10,000 per year). On January 1st, 2020, Max Full decided to upgrade its Machinery in order to reduce the machine's operating costs and paid an additional $6,000 for the upgrade. Residual value remains unchanged at $4,000. But as of january 1,2020 , it was estimated that this major overhaul would increase the useful life by another 2 years from the date of the upgrade. Required: As demonstrated in class, input the numbers that would be used to calculate the Revised Depreciation Expense for the year ended December 31, 2020 by filling in the blanks. DO NOT INCLUDE A DOLLAR (S) SIGN OR A COMMA (.) AND ROUND TO THE NEAREST DOLLAR, EG: 100000 DECEMBER 31, 2020 REVISED DEPRECIATION: LEAVE ALL NUMBERS AS POSITIVE NUMBERS (Revised Cost is Revised Residual is Revised Useful Life is