Question: Chapter 11 Problem 7: On January 1, 2018, the Allegheny Corporation purchased machinery for $115,000 The estimated service life of the machinery is 10 years

Chapter 11 Problem 7: On January 1, 2018, the Allegheny Corporation

Chapter 11 Problem 7: On January 1, 2018, the Allegheny Corporation purchased machinery for $115,000 The estimated service life of the machinery is 10 years and the estimated residual value is S5,000. The machine is expected to produce 220,000 units during its life. Required: Calculate depreciation for 2018 and 2019 using each of the following methods. 1. Straight line. 2. Sum-of-the-years'-digits. 3. Double-declining balance. 4. Units of production (units produced in 2018, 30,000; units produced in 2019, 25,000)

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