I need help with this question and need to show work explanation correctly. PI12 (L01,2) (Derre for Portial Peciods-SLActySID, and Declining Balance) The cost of eauip. PurchastsChaclestony Incy on June I, 2020, is $89a0.It is estimated that the machine Will have a5,000 Salvage valye at the end of iP's service life.It's service life is estimated at 7 Yearsyit's total Working hours are estimated at 42,000g and itstotal Productinn is Pstimated qt 525,000 units.During 2olo the machine was Operated6,000 haurs and Produced 55,000 ynits. During 202I, themachine was operated 5,500 hours and produced 4S,000 units.Instructions.ComPute deprec, expense on the machine for the Yearending Dec. 31,20 and the Year ending Dec31,202using the fallowiog methods.a straight-lineb/ Unlts-of-outputWorking hoursSum-of-the- Yours -diaits.Declining-balance twice the straight-line rate).

PI1.2 (LO1,2) (DerE for Partial Peciods -SL,Acty SID, and Delining- Balance) The cost of earuip. Purchases by Chaclestony Incy on June I, 2020, is $89.000. It is estimated that the machine Will have a 5,000 Salvage Value at the end of iP's service lifen 1 It's service life is estimated at 7 Yearsy it's total Working hours are estimated at 42,000 and it's total Proluction is Pstimated at 525,000 units. During 202o the miachine was operated D00 hayrs and Produced 55,000 units. During 202I, the machine was operated 5,500 hours and produced 49,000 units. Instructions. ComPute deprec expense on the machine for the Year ding Dec. 31,2020y and the Year ending Dec.37,2021 Sing the fallowiog methods.

PI1.2 (LO1,2) (DerE for Partial Peciods -SL,Acty SID, and Delining- Balance) The cost of earuip. Purchases by Chaclestony Incy on June I, 2020, is $89.000. It is estimated that the machine Will have a 5,000 Salvage Value at the end of iP's service lifen 1 It's service life is estimated at 7 Yearsy it's total Working hours are estimated at 42,000 and it's total Proluction is Pstimated at 525,000 units. During 202o the miachine was operated D00 hayrs and Produced 55,000 units. During 202I, the machine was operated 5,500 hours and produced 49,000 units. Instructions. ComPute deprec expense on the machine for the Year ding Dec. 31,2020y and the Year ending Dec.37,2021 Sing the fallowiog methods.

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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