Question 2. Duluth Ranch, Incorporated, purchased a machine on January 1, 2021. The cost of the machine was $34,000. Its estimated residual value was $10,000 at the end of an estimated 5-year life. The company expects to produce a total of 20,000 units. The company produced 2,500 units in 2021 and 3,200 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. c. Calculate depreciation expense for 2021 through 2025 using the double-declining balance method.

Question 2. Duluth Ranch, Incorporated, purchased a machine on January 1, 2021. The cost of the machine was $34,000. Its estimated residual value was $10,000 at the end of an estimated 5-year life. The company expects to produce a total of 20,000 units. The company produced 2,500 units in 2021 and 3,200 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. c. Calculate depreciation expense for 2021 through 2025 using the double-declining balance method.

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Description: vity 1 Questions - Wordrences Mailings ReviewAa - ♥ E-E-F- EENV-A- ====2- 2-1-AaBbCcDc AaBbCcD、 AaBbC AaBbCcL AaBbCcD AaBT Normal T No Spac... Heading 1 Heading 2 Heading 3 TitleParagraphFStylesMcGraw Hill ConnectFundamentals of Financial Accounting

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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