Question: Accounting, I need hand write calculations step by step please Indicate the best answer for each question in the space provided. Use the following data
Indicate the best answer for each question in the space provided. Use the following data for the four independent questions which follow: On 5 May 2010, Lloyd purchased a machine for $84,000. The estimated life of the machine was 10 years, with an estimated residual value of $10,000. The service life in terms of "output" is estimated at 8,000 hours of operation. er to the above data. Assume Lloyd uses straight-line depreciation with the half-year convention. Depreciation expense to be recognized in 2010 (the year of purchase) is: a $7,400. b $8,400. S3,700. d Some other amount 1 Ref 2 Assume Lloyd uses 200% declining balance depreciation with the half- Refer to the data above. year convention Depreciation expense to be recognized in 2011 (the second year of ownernship) is: $8,400. b $13,120. S15,120. d Some other amount. Refer to the data above Assume Lloyd uses 150% declining balance depreciation with the half- year convention. Depreciation expense to be recognized in 2010 (the year of purchase) is: a $8,400. b $6,300.c $12,600. d Some other amount 4 Refer to the data above. Assume Lloyd uses the units-of-output method, and that the machine was in operation for 1,000 hours in 2010 and 1,800 hours in 2011. The book value of the machine at 31 December 2011 is: 4 $48,100. b $58,100. c $25,900. d Some other amount
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