Question: machine 1: straight line dep * include year, dep cost, dep rate, # of months, dep expense, accumulated dep, carrying amount Machine 2: diminsihing balance

machine 1: straight line dep * include year, dep cost, dep rate, # of months, dep expense, accumulated dep, carrying amount
Machine 2: diminsihing balance dep *include year, dep cost, dep rate, # of months, dep expense, accumulated dep, carrying amount
machine 3: units of production dep * include year, units of production, dep cost/value, dep expense, accumulated dep, carrying amount machine 1: straight line dep * include year, dep cost, dep rate,
# of months, dep expense, accumulated dep, carrying amountMachine 2: diminsihing balance

In recent years, Crane Corporation has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Residual Value Useful Life (in years) Machine Acquired Cost 1 Jan. 1.2022 $86,400 $12.400 5 Depreciation Method Straight-line Diminishing-balance Units-of-production 2 July 1, 2023 88.750 10.060 5 3 Nov. 1. 2023 69.390 6.030 6 For the diminishing-balance method Crane Corporation uses double the straight-line rate. For the units-of-production method total machine hours are expected to be 26,400. Actual hours of use in the first 3 years were: 2023,400: 2024, 4, 210; and 2025.5.000. Prepare separate depreciation schedules for each machine. Prepare the schedule for all years, Information permitting (Round depreciation per unit to 2 decimal places, e... 5.20 and answers to the nearest whole dollar, c. 5,275. Do not leave ony answer field blank. Enter O for amounts

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!