Question: with cell calculation please!! Watkins Production purchased a new computerized machine at a cost of $450,000. The machine has a residual value of $64,000 and

with cell calculation please!!
with cell calculation please!! Watkins Production purchased a new computerized machine at

Watkins Production purchased a new computerized machine at a cost of $450,000. The machine has a residual value of $64,000 and an expected life of 5 years. 1. Using the table I started for you below, calculate the depreciation expense, accumulated depreciation and book value for all 5 years of the machine's expected life using the double-declining-balance method of depreciation. For year 4 , do not double the depreciation ratio (just use the single declining balance ratio) and for year 5 , use the previous year book value and the known ending residual value to calculate that last year of depreciation expense (remember, the depreciation expense in the final year cannot cause the final book value to be lower than the known residual valuel). ( 8 points. Need to use formulas/cell references in the cells whenever possible in order to earn full credit.)

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!