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Torge Company bought a machine for $65,000 cash. The estimated useful life was five years and the estimated residual value was $5,000. Assume that the
Torge Company bought a machine for $65,000 cash. The estimated useful life was five years and the estimated residual value was $5,000. Assume that the estimated useful life in productive units is 150,000. Units actually produced were 40,000 in year 1 and 45,000 in year 2 Required: 1. Determine the appropriate amounts to complete the following schedule. (Do not round intermediate calculations.) Method of Depreciation Straight-line Units-of-production Double-declining-balance X Answer is complete but not entirely correct. Depreciation Expense Book Value at the End for of Year 1 Year 2 Year 1 Year 2 $ 12,000 $ 12,000 $ 53,000 $ 41,000 $ 16,000 $ 18,000 $ 44,000 $ 26,000 $ 26,000 $ 15,600 $ 39,000 $ 23,400
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