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Week 4: Depreciation Calculation. On January 2, 2016, Fischer Company purchases a machine that manufactures a part for one of its key products. The machine
Week 4: Depreciation Calculation.
On January 2, 2016, Fischer Company purchases a machine that manufactures a part for one of its key products. The machine cost $264,000 and is estimated to have a useful live of six years, with an expected salvage value of $54,000. Prepare a depreciation schedule for all six years using both Straight Line and Double Declining Balance methods. A model of a depreciation schedule is shown below.
Year | Book value/beginning of the year | Depreciation expense | Accumulated depreciation | book value/end of the year |
Year 1 | ||||
Year 2 | ||||
Year 3 | ||||
Year 4 | ||||
Year 5 | ||||
Year 6 |
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