Depreciation In early 2015, sosa Enterprise purchased a new machine for $12,000

Question

Depreciation In early 2015, sosa Enterprise purchased a new machine for $12,000 to make cork stoppers for wine bottles. The machine has a 3-year recovery period and is expected to have a salvage value of $1,970. Develop a depreciation schedule for this asset using MACRS depreciation percentage in the table? Complete the depreciation schedule for the asset below. (Round the percentage to the nearest integer and the depreciation to the nearest dollar.) (Round the percentage to the nearest integer and the depreciation to the nearest dollar.) (Round the percentage to the nearest integer and the depreciation to the nearest dollar.) Demanded Depreciation percentages by recovery Year Using MACRS for Four Property Classes.

Explanation / Answer

Depreciation Schedule Year          Cost Percentage             Depreciation 1 $        12,000 33% $                          3,960 2 $        12,000 45% $                          5,400 3 $        12,000 15% $                          1,800 4 $        12,000 7% $                              840

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