Show Attempt HistoryCurrent Attempt in ProgressBlossom Ltd. purchased a new machine on April 4, 2017, at a cost of $156,000. The company estimated that the machine would have aresidual value of $14,000. The machine is expected to be used for 10,000 working hours during its four-year life. Actual machine usagewas 1,600 hours in 2017; 2,400 hours in 2018; 2,200 hours in 2019; 2,100 hours in 2020; and 1,700 hours in 2021. Blossom has aDecember 31 year end.(a)pe here to searchYour answer is partially correct.Calculate depreciation for the machine under each of the following methods: (Round expense per unit to 2 decimal places, e.g. 2.75and final answers to 0 decimal places, e.g. 5,275.)(1) Straight-line for 2017 through to 2021.I1139Rain to stopEl Type here to search(2) Diminishing-balance using double the straight-line rate for 2017 through to 2021.2017 expense2018 expense $2019 expense2020 expense2021 expense$$$(3) Units-of-production for 2017 through to 2021St

Depreciation :—The monetary value of an asset decreases over time due to use, wear and tear or…

(2) Diminishing-balance using double the straight-line rate for 2017 through to 2021. 2017 expense 2018 expense $ 2019 expense 2020 expense 2021 expense $ CA (3) Units-of-production for 2017 through to 2021.

(2) Diminishing-balance using double the straight-line rate for 2017 through to 2021. 2017 expense 2018 expense $ 2019 expense 2020 expense 2021 expense $ CA (3) Units-of-production for 2017 through to 2021.

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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Question

Show Attempt History
Current Attempt in Progress
Blossom Ltd. purchased a new machine on April 4, 2017, at a cost of $156,000. The company estimated that the machine would have a
residual value of $14,000. The machine is expected to be used for 10,000 working hours during its four-year life. Actual machine usage
was 1,600 hours in 2017; 2,400 hours in 2018; 2,200 hours in 2019; 2,100 hours in 2020; and 1,700 hours in 2021. Blossom has a
December 31 year end.
(a)
pe here to search
Your answer is partially correct.
Calculate depreciation for the machine under each of the following methods: (Round expense per unit to 2 decimal places, e.g. 2.75
and final answers to 0 decimal places, e.g. 5,275.)
(1) Straight-line for 2017 through to 2021.
I
1139
Rain to stop
El

Type here to search
(2) Diminishing-balance using double the straight-line rate for 2017 through to 2021.
2017 expense
2018 expense $
2019 expense
2020 expense
2021 expense
$
$
$
(3) Units-of-production for 2017 through to 2021
St

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