Duluth Ranch, Incorporated purchased a machine on January 1, 2021. The cost of the machine was $23.000. Its estimated residual value was $7.000 at the end of an estimated 5-year life. The company expects to produce a total of 20,000 units. The company produced 900 units in 2021 and 1.350 units in 2022. Required: a. Calculate depreciation expense for 2021 and 2022 using the straight-line method. b. Calculate the depreciation expense for 2021 and 2022 using the units of production method. e. Calculate depreciation expense for 2021 through 2025 using the double-declining balance method. Complete this question by entering your answers in the tabs below. Required A Required b Required C Calculate depreciation expense for 2021 and 2022 using the straight-line method. 2021 Depreciation Expense Per Year 2022
Duluth Ranch, Incorporated purchased a machine on January 1, 2021. The cost of the machine was $23.000. Its estimated residual value was $7.000 at the end of an estimated 5-year life. The company expects to produce a total of 20,000 units. The company produced 900 units in 2021 and 1.350 units in 2022. Required: a. Calculate depreciation expense for 2021 and 2022 using the straight-line method. b. Calculate the depreciation expense for 2021 and 2022 using the units of production method. e. Calculate depreciation expense for 2021 through 2025 using the double-declining balance method. Complete this question by entering your answers in the tabs below. Required A Required b Required C Calculate depreciation expense for 2021 and 2022 using the straight-line method. 2021 Depreciation Expense Per Year 2022
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter11: Depreciation, Depletion, Impairment, And Disposal
Section: Chapter Questions
Problem 10E: Hathaway Company purchased a copying machine for 8,700 on October 1, 2019. The machines residual...
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