Solar Innovations Corporation bought a machine at the beginning of the year at a

Question

Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $34,000. The estimated useful life was five years and the residual value was $4.000. Assume that the estimated productive life of the machine is 15,000 units. Expected annual production for year 1, 3,100 units, year 2, 4.100 units: year 3, 3 100 units year 4.3,100 units and year 5. 1600 units Required: 1. Complete a depreciation schedule for each of the alternative methods. (Do not round intermediate calculations.) a. Straight-ine ncome Statement Balance Sheet DepreciationCostonok a earExpense At acquisition 4

Explanation / Answer

Answer

income statement balance sheet

year depreciation expense cost accumulated depreciation book value at acquisition 34000 1 6000 34000 6000 28000 2 6000 28000 12000 22000 3 6000 22000 18000 16000 4 6000 16000 24000 10000 5 6000 10000 30000 4000

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