Question: From the following, prepare depreciation schedules for the first 2 years for (a) Straight-line, (b) Units-of-production, (c) Double declining-balance at twice the straight-line rate methods.

From the following, prepare depreciation schedules for the first 2 years for

(a) Straight-line,

(b) Units-of-production,

(c) Double declining-balance at twice the straight-line rate methods.

• Machine purchased on January 1, $1,470.

• Residual value, $290.

• Estimated useful life, 5 years.

• Total estimated output, 590 units.

• Output year 1, 50 units.

• Output year 2, 200 units.

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