On May 2, 2020, Uniglobe Satellite Company purchased and installed a new machine that cost $273,000, with

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On May 2, 2020, Uniglobe Satellite Company purchased and installed a new machine that cost $273,000, with a five-year life and an estimated $38,220 residual value. Management estimated that the machine would produce 168,000 units of product during its life. Actual production of units was as follows:

2020 ...................................... 23,5202021 ...................................... 36,9602022 ...................................... 33,6002023 ...................................... 31,9202024 ...................................... 26,6002025 ...................................... 30,940

Required

Prepare a schedule with the following column headings.

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Show the depreciation for each year (calculated to the nearest whole month) and the total depreciation for the machine under each depreciation method. For units-of production, round the depreciation charge per unit to two decimal places. The company?s year-end is December 31.

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Related Book For  answer-question

Fundamental Accounting Principles Volume I

ISBN: 978-1260305821

16th Canadian edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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