Oriole Ltd. purchased a new machine on April 4, 2020, at a cost of $188,000. The...
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Oriole Ltd. purchased a new machine on April 4, 2020, at a cost of $188,000. The company estimated that the machine would have a residual value of $16,000. The machine is expected to be used for 10,000 working hours during its four-year life. Actual machine usage was 1,500 hours in 2020; 2,400 hours in 2021: 2.500 hours in 2022: 2,300 hours in 2023; and 1,300 hours in 2024. Oriole has a December 31 year end. (2) Diminishing-balance using double the straight-line rate for 2020 through to 2024. 2020 expense A 70500 2021 expense SA 58750 2022 expense $ 29375 2023 experise $ 2024 expense $ Oriole Ltd. purchased a new machine on April 4, 2020, at a cost of $188,000. The company estimated that the machine would have a residual value of $16,000. The machine is expected to be used for 10,000 working hours during its four-year life. Actual machine usage was 1,500 hours in 2020; 2,400 hours in 2021: 2.500 hours in 2022: 2,300 hours in 2023; and 1,300 hours in 2024. Oriole has a December 31 year end. (2) Diminishing-balance using double the straight-line rate for 2020 through to 2024. 2020 expense A 70500 2021 expense SA 58750 2022 expense $ 29375 2023 experise $ 2024 expense $
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