Do in excel please Depreciable mining equipment costing $100,000 is expected to have a useful life of 120,000 units ofproduction. Salvage value is 0, estimated annual production for the next seven years is 30,000 units,30,000, 20,000, then 10,000 units per year over the remaining four years. Total = 120,000 units.%3DUsing the depreciation method "units of production", determine the allowable annual depreciationfor each of the seven years.Using the MACRS method of depreciation, determine the allowable annual depreciation for eachyear, assuming the half year convention, i.e. depreciation over 8 years.

Units of Production method Depreciation = Cost Of Asst - Salvage valueEstimated total production…

Depreciable mining equipment costing $100,000 is expected to have a useful life of 120,000 units of production. Salvage value is 0, estimated annual production for the next seven years is 30,000 units, 30,000, 20,000, then 10,000 units per year over the remaining four years. Total = 120,000 units. Using the depreciation method "units of production", determine the allowable annual depreciation for each of the seven years. Using the MACRS method of depreciation, determine the allowable annual depreciation for each year, assuming the half year convention, i.e. depreciation over 8 years.

Depreciable mining equipment costing $100,000 is expected to have a useful life of 120,000 units of production. Salvage value is 0, estimated annual production for the next seven years is 30,000 units, 30,000, 20,000, then 10,000 units per year over the remaining four years. Total = 120,000 units. Using the depreciation method "units of production", determine the allowable annual depreciation for each of the seven years. Using the MACRS method of depreciation, determine the allowable annual depreciation for each year, assuming the half year convention, i.e. depreciation over 8 years.

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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