Question
Your answer is incorrect. Try again. Kingbird Corporation purchased a new machine for its assembly process on August 1, 2020. The cost of this machine
Your answer is incorrect. Try again. | |
Kingbird Corporation purchased a new machine for its assembly process on August 1, 2020. The cost of this machine was $167,400. The company estimated that the machine would have a salvage value of $14,400 at the end of its service life. Its life is estimated at 5 years, and its working hours are estimated at 22,500 hours. Year-end is December 31. Compute the depreciation expense under the following methods. Each of the following should be considered unrelated. (Round depreciation rate per hour to 2 decimal places, e.g. 5.35 for computational purposes. Round your answers to 0 decimal places, e.g. 45,892.)
(a) | Straight-line depreciation for 2020 | $enter a dollar amount | ||
---|---|---|---|---|
(b) | Activity method for 2020, assuming that machine usage was 800 hours | $enter a dollar amount | ||
(c) | Sum-of-the-years'-digits for 2021 | $enter a dollar amount | ||
(d) | Double-declining-balance for 2021 | $enter a dollar amount |
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