hello, thank s for all your help Complete the following table given this information: **(Do not round intermediate calculations.)**- **Cost of machine:** $94,000- **Residual value:** $4,000- **Useful life:** 5 years---**Estimated units machine will produce:** 100,000**Actual production:**- **Year 1:** 60,000- **Year 2:** 15,000---**Use** [MACRS](https://www.irs.gov/publications/p946/ch04.html) **table.**---| Method | Depreciation Expense ||-------------------------|----------------------|| | Year 1 | Year 2 || **Straight line** | | || **Units of production** | | || **Declining balance** | | || **MACRS (5-year class)**| | |---**Instructions:**Complete the table by calculating the depreciation expenses for Year 1 and Year 2 using the following methods:1. **Straight line**: Depreciation is spread evenly over the useful life.2. **Units of production**: Depreciation is based on actual production relative to estimated production.3. **Declining balance**: An accelerated depreciation method that multiplies the book value at the beginning of each year by a fixed rate.4. **MACRS (Modified Accelerated Cost Recovery System)**: Use IRS-specified rates for a 5-year class.Ensure that calculations are not rounded at intermediate steps to maintain accuracy.

Depreciation means decline in the estimation of benefit inside its valuable life because of mileage…

Complete the following table given this information: (Do not round intermediate calculations.) $ 94,000 $ 4,000 5 years Cost of machine Residual value Useful life Estimated units machine will produce Actual production: 100,000 Year 1 Year 2 60,000 15,000 Use MACRS table. Depreciation Expense Method Year 1 Year 2 Straight line Units of production Declining balance MACRS (5-year class)

Complete the following table given this information: (Do not round intermediate calculations.) $ 94,000 $ 4,000 5 years Cost of machine Residual value Useful life Estimated units machine will produce Actual production: 100,000 Year 1 Year 2 60,000 15,000 Use MACRS table. Depreciation Expense Method Year 1 Year 2 Straight line Units of production Declining balance MACRS (5-year class)

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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