Ivanhoe Company purchased a new machine on October 1, 2025, at a cost of $76,100. The company estimated that the machine has a salvage value of $6,060. The machine is expected to be used for 68.000 working hours during its 10-year life. Your answer is correct. Compute depreciation using declining balance using double the straight-line rate for 2025 and 2026, (Round answers to 2 decimal places, eg 2,152.75) Calculate the depreciation cost per hour. (Round answer to 2 decimal places, eg 1.25.) Depreciation cost per hour Compute depreciation using units-of-activity for 2025, assuming machine usage was 500 hours. (Round answer to 0 decimal places. eg. 5,275.) Depreciation using the units-of-activity method for 2025

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Depreciation Methods

The word "depreciation" is defined as an accounting method wherein the cost of tangible assets is spread over its useful life and it usually denotes how much of the assets value has been used up. The depreciation is usually considered as an operating expense. The main reason behind depreciation includes wear and tear of the assets, obsolescence etc.

Depreciation Accounting

In terms of accounting, with the passage of time the value of a fixed asset (like machinery, plants, furniture etc.) goes down over a specific period of time is known as depreciation. Now, the question comes in your mind, why the value of the fixed asset reduces over time.