Given the data, prepare a depreciation table (Depreciation Expense, Accumulated Depreciation, Carrying Amount) for the following methods: 1. SYD 2. Double Declining Method Also, identify the Gain or Loss for each year and every deprecation method if the machine is sold at: End of 1st Yr - 500,000 End of 2nd Yr - 360,000 End of 3rd Yr - 260,000 End of 4th Yr - 165,000 End of 5th Yr - 40,000
Given the data, prepare a depreciation table (Depreciation Expense, Accumulated Depreciation, Carrying Amount) for the following methods: 1. SYD 2. Double Declining Method Also, identify the Gain or Loss for each year and every deprecation method if the machine is sold at: End of 1st Yr - 500,000 End of 2nd Yr - 360,000 End of 3rd Yr - 260,000 End of 4th Yr - 165,000 End of 5th Yr - 40,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Given the data, prepare a depreciation table (Depreciation Expense, Accumulated Depreciation , Carrying Amount) for the following methods:
1. SYD
2. Double Declining Method
Also, identify the Gain or Loss for each year and every deprecation method if the machine is sold at:
End of 1st Yr - 500,000
End of 2nd Yr - 360,000
End of 3rd Yr - 260,000
End of 4th Yr - 165,000
End of 5th Yr - 40,000
![150,000 production units.
a residual value of P35,000.
The estimated useful life is 5 years, 60,000 service hours and
January 1, 2020. It was estimated that the machine would
on
a
have
Actual operations
Service hours
Unit produced
2020
2021
14,000
13,000
10,000
11,000
12,000
34,000
32,000
25,000
29,000
30,000
2022
2023
2024](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9a5db1e8-9dc3-4798-90ce-bc710e49e130%2F099e9edb-2cf4-4648-b164-e95381781e17%2Fkybgiyg_processed.jpeg&w=3840&q=75)
Transcribed Image Text:150,000 production units.
a residual value of P35,000.
The estimated useful life is 5 years, 60,000 service hours and
January 1, 2020. It was estimated that the machine would
on
a
have
Actual operations
Service hours
Unit produced
2020
2021
14,000
13,000
10,000
11,000
12,000
34,000
32,000
25,000
29,000
30,000
2022
2023
2024
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