Solve for the double-declining-balance. Ignore where It says “straight-line”. Th

Question

Solve for the double-declining-balance. Ignore where It says “straight-line”. Thank you
value 4.00 points 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, 1.600 units Required: 1. Completeoa depreciation schedule for each of the aiternative methods (Do not round intermediate calculations.) a. Straight-line Income Statement Balance Sheet Depreciation Expense Accumulated Book Value Depreciation Year Cost At acquisition 4

Explanation / Answer

Rate of SLM (100/5)= 20% Rate of DDB is (20*2) =40% Year Depreciation Cost Accumulated Book Value expense Depreciation At acquisition 34000 0 34000 1 13600 34000 13600 20400 2 8160 34000 21760 12240 3 4896 34000 26656 7344 4 2938 34000 29594 4406 5 406 34000 30000 4000

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