ezto.mheducation.com G.1: Ch 9 Intro Part 1 A machine that cost $400,000 has an

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ezto.mheducation.com G.1: Ch 9 Intro Part 1 A machine that cost $400,000 has an estimated residual value c ACCOUNTING ed: 23255 WK G.1: Ch 9 Intro Part 1 instr o Question 6 (of 6) Time remaini 6 value: O. 10.00 points Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $24,000. The estimated useful life was five years and the residual value was $3,000. Assume that the estimated productive life of the machine is 10,000 units. Expected annual production for year 1, 2,000 units; year 2, 3,000 units; year 3, 2,000 units; year 4, 2,000 units; and year 5, 1,000 units Required: 1. Complete a depreciation schedule for each of the alternativemethods. (Do not round intermediate calculations.) a. Straight-line. Income Statement Balance Sheet

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Working:

Cost

Working:

Cost

a. Straight Line Method Income Statement Balance Sheet Year Depreciation Expense Cost Accumulated depreciation Book Value At acquisition 0 24000 0 0 1 4200 24000 4200 19800 2 4200 24000 8400 15600 3 4200 24000 12600 11400 4 4200 24000 16800 7200 5 4200 24000 21000 3000

Working:

Cost

24000 Residual value 3000 Depreciable value 21000 Estimated life - Years 5 Annual depreciation 4200

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