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XYZ Corporation purchased a factory machinery of 51,000 on January 1, 2015. The machine is expected to have a salvage value of 6,000 at
XYZ Corporation purchased a factory machinery of 51,000 on January 1, 2015. The machine is expected to have a salvage value of 6,000 at the end of its 5 years useful life. During the useful life, the machine is expected to be used for 5,000 hours. The machine was used as under: Hours Used Years 2015 1,200 2016 800 2017 1,150 2018 2019 850 1,000 Required: Prepare Schedule of Depreciation on the basis of the following methods 1. Straight Line Method 2. Units of Output Method 3. Double Declining Balance Method
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