A machine was on purchased on March 2nd for $500,000 with a residual value of $50,000. The company estimates that the machine will last 5 years and produce 2,000,000 parts over its life. Calculate depreciation expense using the Straight-Line method for the 5-year life. (NOTE: Round your answers to the nearest dollar and enter it enter it WITHOUT decimals, commas or dollar signs [Example 75000].) 1. Year 1 - $ 2. Year 2 -___$ 3. Year 3 - $ 4. Year 4 $ 5. Year 5 - $ 6. Year 6 - $

A machine was on purchased on March 2nd for $500,000 with a residual value of $50,000. The company estimates that the machine will last 5 years and produce 2,000,000 parts over its life. Calculate depreciation expense using the Straight-Line method for the 5-year life. (NOTE: Round your answers to the nearest dollar and enter it enter it WITHOUT decimals, commas or dollar signs [Example 75000].) 1. Year 1 - $ 2. Year 2 -___$ 3. Year 3 - $ 4. Year 4 $ 5. Year 5 - $ 6. Year 6 - $

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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