Question: please typed answer and answer it clearly for every part Mace Company acquired equipment that cost $66,000, which will be depreciated on the assumption that

please typed answer and answer it clearly for every part  please typed answer and answer it clearly for every part Mace
Company acquired equipment that cost $66,000, which will be depreciated on the

Mace Company acquired equipment that cost $66,000, which will be depreciated on the assumption that the equipment will last six years and have a $4,300 residual value. Component parts are not significant and need not be recognized and depreciated separately. Several possible methods of depreciation are under consideration. Required: 1. Prepare a schedule that shows annual depreciation expense for the first two years, assuming the following (Round your answer to nearest whole dollar.): a. Declining balance method, using a rate of 30% b. Productive-output method. Estimated output is a total of 210,000 units, of which 24,000 will be produced the first year: 36.000 in each of the next two years: 30,000 the fourth year, and 42,000 the fifth and sixth years. c. Straight-line method. Year (DB 30% (b) Productive Output (c) SL 1 2 2. Repeat your calculations for requirement 1, assuming a useful life of 10 years, and a declining balance rate of 20% that reflects the longer life, but the same number of units of production. The residual value is unchanged, Year) De 20% (b) Productive Output (c) SL 1 2

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!