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Company purchases a machine for $4,000,000. The machine has a residual value of $200,000. The machine will last for 4 years and will produce a total of 200,000 units. During these years, the machine will produce units of 60,000, 50,000, 60,000, and 30,000 in years 1, 2, 3, and 4, respectively. REQUIRED: Complete the tables for depreciation for the Units of Production and Double Declining Balance Methods.

Company purchases a machine for $4,000,000. The machine has a residual value of $200,000. The machine will last for 4 years and will produce a total of 200,000 units. During these years, the machine will produce units of 60,000, 50,000, 60,000, and 30,000 in years 1, 2, 3, and 4, respectively. REQUIRED: Complete the tables for depreciation for the Units of Production and Double Declining Balance Methods.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Answer. Company purchases a machine for $4,000,000. The machine has a residual value of $200,000. The machine will last for 4 years and will produce a total of 200,000 units. During these years, the machine will produce units of 60,000, 50,000, 60,000, and 30,000 in years 1, 2, 3, and 4, respectively. REQUIRED: Complete the tables for depreciation for the Units of Production and Double Declining Balance Methods. Units-of-Production Method Depreciation Expense Accumulated Depreciation Book Value 2020 2021 2022 2023 Double Declining Balance Method Depreciation Expense Accumulated Depreciation Book Value 2020 2021 2022 2023 B II !!
Transcribed Image Text:Answer. Company purchases a machine for $4,000,000. The machine has a residual value of $200,000. The machine will last for 4 years and will produce a total of 200,000 units. During these years, the machine will produce units of 60,000, 50,000, 60,000, and 30,000 in years 1, 2, 3, and 4, respectively. REQUIRED: Complete the tables for depreciation for the Units of Production and Double Declining Balance Methods. Units-of-Production Method Depreciation Expense Accumulated Depreciation Book Value 2020 2021 2022 2023 Double Declining Balance Method Depreciation Expense Accumulated Depreciation Book Value 2020 2021 2022 2023 B II !!
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