Strong Metals Incorporated purchased a new stamping machine at the beginning of the year at a cost of $1,520,000. The estimated residual value was $80,000. Assume that the estimated useful life was five years and the estimated productive life of the machine was 300,000 units. Actual annual production was as follows: Year Units 70,000 1 2 67,000 3 4 5 50,000 73,000 40,000 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 1C Complete a depreciation schedule using the double-declining-balance method. Depreciation Accumulated Expense Depreciation Year At acquisition 1 2 3 4 5 Req 18 Net Book Value

Strong Metals Incorporated purchased a new stamping machine at the beginning of the year at a cost of $1,520,000. The estimated residual value was $80,000. Assume that the estimated useful life was five years and the estimated productive life of the machine was 300,000 units. Actual annual production was as follows: Year Units 70,000 1 2 67,000 3 4 5 50,000 73,000 40,000 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 1C Complete a depreciation schedule using the double-declining-balance method. Depreciation Accumulated Expense Depreciation Year At acquisition 1 2 3 4 5 Req 18 Net Book Value

Name: Sh1 Strong Metals Incorporated purchased a new stamping machine at the
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Description: Sh1 Strong Metals Incorporated purchased a new stamping machine at the beginning of the year at a cost of $1,520,000. The estimatedresidual value was $80,000. Assume that the estimated useful life was five years and the estimated productive life of t

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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