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Torge Company bought a machine for $70,000 cash. The estimated useful life was five years and the estimated residual value was $7,000. Assume that the
Torge Company bought a machine for $70,000 cash. The estimated useful life was five years and the estimated residual value was $7,000. Assume that the estimated useful life in productive units is 204,000. Units actually produced were 54,400 in year 1 and 61,200 in year 2 Required: 1. Determine the appropriate amounts to complete the following schedule. (Do not round intermediate calculations.) Depreciation Expense for Year 1 Year 2 Book Value at the End of Year 1 Year 2 Method of Depreciation Straight-line Units-of-production Double-declining-balance
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