Question: Current Attempt in Progress On January 1, 2015, a machine was purchased for $99,900. The machine has an estimated salvage value of $6,660 and an


Current Attempt in Progress On January 1, 2015, a machine was purchased for $99,900. The machine has an estimated salvage value of $6,660 and an estimated useful life of 5 years. The machine can operate for 111,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2015, 22 200 hrs: 2016. 27.750 hrs: 2017, 16,650 hrs: 2018, 33.300 hrs, and 2019,11,100 hrs. Compute the annual depreciation charges over the machine's life assuming a December 31 year-end for each of the following depreciation methods. (Round answers to decimal places, e8.45,892.) Straight-line Method $ 18648 (2) Activity Method Year 2015 $ 18648 $ 2016 23310 2017 $ 13986 2018 $ 27972 2019 $ 9324 Question 1 of 1 (3) Sum-of-the-Years'-Digits Method Year 2015 $ 31080 2016 $ 24864 2017 $ 18648 2018 $ 12432 2019 $ 6216 Double-Declining-Balance Method Year 2015 $ 39960 2016 $ 23976 2017 $ 14385 $ 2018 $ 8631 2019 $ 5178 eTextbook and Media e Textbook and Media Assume a fiscal year-end of September 30. Compute the annual depreciation charges over the asset's life applying each of the following methods. (Round answers to decimal places, e.g. 45,892.) Year Straight-line Method $ Sum-of-the-years-digits method $ Double-declining balance method $ 2015 2016 2017 2018 2019 2020 e Textbook and Media
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
