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E8-11 (Algo) Computing Depreciation under Alternative Methods LO8-3 At the beginning of the year, Palermo Brothers, Inc., purchased a new plastic water bottle-making machine at a cost of $56,000. The estimated residual value was $6,000. Assume that the estimated useful life was four years and the estimated productive life of the machine was 500,000 units. Actual annual production was as follows: Year Units 1 150,000 2 110,000 3 137,500 4 102,500 Required: 1. Complete a separate depreciation schedule for each of the alternative methods. a. Straight-line. b. Units-of-production. c. Double-declining-balance.

E8-11 (Algo) Computing Depreciation under Alternative Methods LO8-3 At the beginning of the year, Palermo Brothers, Inc., purchased a new plastic water bottle-making machine at a cost of $56,000. The estimated residual value was $6,000. Assume that the estimated useful life was four years and the estimated productive life of the machine was 500,000 units. Actual annual production was as follows: Year Units 1 150,000 2 110,000 3 137,500 4 102,500 Required: 1. Complete a separate depreciation schedule for each of the alternative methods. a. Straight-line. b. Units-of-production. c. Double-declining-balance.

FINANCIAL ACCOUNTING
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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Complete this question by entering your answers in the tabs below. Req 1A Year Complete a depreciation schedule using the units-of-production method. (Use two decimal places for the per unit output factor.) At acquisition 1 2 3 4 Req 1A Req 1B Complete this question by entering your answers in the tabs below. Year Req 1C At acquisition 1 2 3 4 Depreciation Accumulated Net Expense Depreciation Book Value Req 1B Complete a depreciation schedule using the double-declining-balance method. Depreciation Accumulated Net Expense Depreciation Book Value Req 1C
Transcribed Image Text:Complete this question by entering your answers in the tabs below. Req 1A Year Complete a depreciation schedule using the units-of-production method. (Use two decimal places for the per unit output factor.) At acquisition 1 2 3 4 Req 1A Req 1B Complete this question by entering your answers in the tabs below. Year Req 1C At acquisition 1 2 3 4 Depreciation Accumulated Net Expense Depreciation Book Value Req 1B Complete a depreciation schedule using the double-declining-balance method. Depreciation Accumulated Net Expense Depreciation Book Value Req 1C
E8-11 (Algo) Computing Depreciation under Alternative Methods LO8-3 At the beginning of the year, Palermo Brothers, Inc., purchased a new plastic water bottle-making machine at a cost of $56,000. The estimated residual value was $6,000. Assume that the estimated useful life was four years and the estimated productive life of the machine was 500,000 units. Actual annual production was as follows: Year Units 1 150,000 2 110,000 3 137,500 4 102,500 Required: 1. Complete a separate depreciation schedule for each of the alternative methods. a. Straight-line. b. Units-of-production. c. Double-declining-balance. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Complete a depreciation schedule using the straight-line method. Depreciation Accumulated Net Expense Depreciation Book Value Year Req 1C At acquisition 1 2 3 4
Transcribed Image Text:E8-11 (Algo) Computing Depreciation under Alternative Methods LO8-3 At the beginning of the year, Palermo Brothers, Inc., purchased a new plastic water bottle-making machine at a cost of $56,000. The estimated residual value was $6,000. Assume that the estimated useful life was four years and the estimated productive life of the machine was 500,000 units. Actual annual production was as follows: Year Units 1 150,000 2 110,000 3 137,500 4 102,500 Required: 1. Complete a separate depreciation schedule for each of the alternative methods. a. Straight-line. b. Units-of-production. c. Double-declining-balance. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Complete a depreciation schedule using the straight-line method. Depreciation Accumulated Net Expense Depreciation Book Value Year Req 1C At acquisition 1 2 3 4
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