Strong Metals Incorporated purchased a new stamping machine at the beginning of the year at a cost of $1,900,000. The estimated residual value was $100,000. 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 1 70,000 2 67,000 3 50,000 4 73,000 5 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 1B Req 1C Complete a depreciation schedule using the straight-line method. Year Depreciation Expense At acquisition 1 2 3 4 5 Accumulated Depreciation Net Book Value

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Strong Metals Incorporated purchased a new stamping machine at the beginning of the year at a cost of $1,900,000. The estimated
residual value was $100,000. 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
1
70,000
67,000
3
50,000
4
73,000
5 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 1B
Req 1C
Complete a depreciation schedule using the straight-line method.
Year
Depreciation
Expense
At acquisition
1
2
3
4
50
Accumulated
Depreciation
Net
Book Value
Transcribed Image Text:Strong Metals Incorporated purchased a new stamping machine at the beginning of the year at a cost of $1,900,000. The estimated residual value was $100,000. 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 1 70,000 67,000 3 50,000 4 73,000 5 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 1B Req 1C Complete a depreciation schedule using the straight-line method. Year Depreciation Expense At acquisition 1 2 3 4 50 Accumulated Depreciation Net Book Value
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