Answered step by step
Verified Expert Solution
Question
1 Approved Answer
with clear explanations please especially on machine 3 ( units of production) - In recent years, Wng Company purchased three machines. Because of heavy turnover
with clear explanations please especially on machine 3 ( units of production)
- In recent years, Wng Company purchased three machines. Because of heavy turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and each selected a different method. Information concerning the machines is summarized below. Residual Useful Life Machine Acquired Cost Value in Years Depreciation Method 1/1/14 105,000 5.000 Straight-line 1/1/15 150.000 10,000 Declining-balance 11/1/17 100.000 15,000 Units-of-production For the declining-balance method, the company uses the double-declining rate. For the units-of-production method, total machine hours are expected to be 25,000. Actual hours of use in the first 3 years were 2017, 1,300; 2018, 4,100; and 2019, 5,500. Required: () (a) Compute the amount of accumulated depreciation on each machine at December 31, 2017. (45%) (b) If Machine 2 had been purchased on May 1 instead of January 1, what would be the depreciation expense for this machine in 2015? (15%) (a) (b) Machine 1 Machine 2 Machine 3Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started