Banko Inc. manufactures sporting goods. The following information applies to a machine purchased on January 1,...
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Banko Inc. manufactures sporting goods. The following information applies to a machine purchased on January 1, Year 1: Purchase price Delivery cost Installation charge Estimated life Estimated units $ 90,800 $ 4,000 $ 3,000 5 years 153,000 $ 6,000 Salvage estimate During Year 1, the machine produced 49,000 units and during Year 2, it produced 51,000 units. Required Determine the amount of depreciation expense for Year 1 and Year 2 using each of the following methods: Year 1 Year 2 a. Straight-line b. Double-declining-balance C. Units of production Banko Inc. manufactures sporting goods. The following information applies to a machine purchased on January 1, Year 1: Purchase price Delivery cost Installation charge Estimated life Estimated units $ 90,800 $ 4,000 $ 3,000 5 years 153,000 $ 6,000 Salvage estimate During Year 1, the machine produced 49,000 units and during Year 2, it produced 51,000 units. Required Determine the amount of depreciation expense for Year 1 and Year 2 using each of the following methods: Year 1 Year 2 a. Straight-line b. Double-declining-balance C. Units of production
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Related Book For
Survey of Accounting
ISBN: 978-1259631122
5th edition
Authors: Thomas Edmonds, Christopher Edmonds, Philip Olds, Frances McNair, Bor-Yi Tsay
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