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Yazzie Incorporated bought a machine at the beginning of the year at a cost of $34,000. The estimated useful life was five years and the
Yazzie Incorporated bought a machine at the beginning of the year at a cost of $34,000. The estimated useful life was five years and the residual value was $2,000. Assume the estimated productive life of the machine is 16,000 units. Expected annual production was year 1, 3,200 units; year 2, 4,200 units; year 3, 3,200 units; year 4, 3,200 units; and year 5, 2,200 units.
- Complete a depreciation schedule for the units-of-production method.
- Prepare the journal entry to record Year 2 depreciation.
Year Depreciation Expense Cost Accumulated Depreciation Book Value
At Acquistion
1
2
3
4
5
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