You are a financial analyst for Loch Motor Company and have been asked to determine the impact of alternative depreciation methods. For your analysis, you have been asked to compare methods based on a machine that cost $126,000. The estimated useful life is 16 years and the estimated residual value is $11,760. The machine has an estimated useful life in productive output of 204,000 units. Actual output was 23,000 in year 1 and 19,000 in year 2. Required: 1. For years 1 and 2 only, prepare separate depreciation schedules assuming: a. Straight-line method. b. Units-of-production method. c. Double-declining-balance method. Complete this question by entering your answers in the tabs below. Required 1a Required 1b Required 1c For years 1 and 2 only, prepare separate depreciation schedules assuming straight-line method. Note: Do not round intermediate calculations and round your final answers to the nearest dollar amount. Year At acquisition 1 Depreciation Expense Accumulated Depreciation Net Book Value 2 < Required 1a Required 1b >

You are a financial analyst for Loch Motor Company and have been asked to determine the impact of alternative depreciation methods. For your analysis, you have been asked to compare methods based on a machine that cost $126,000. The estimated useful life is 16 years and the estimated residual value is $11,760. The machine has an estimated useful life in productive output of 204,000 units. Actual output was 23,000 in year 1 and 19,000 in year 2. Required: 1. For years 1 and 2 only, prepare separate depreciation schedules assuming: a. Straight-line method. b. Units-of-production method. c. Double-declining-balance method. Complete this question by entering your answers in the tabs below. Required 1a Required 1b Required 1c For years 1 and 2 only, prepare separate depreciation schedules assuming straight-line method. Note: Do not round intermediate calculations and round your final answers to the nearest dollar amount. Year At acquisition 1 Depreciation Expense Accumulated Depreciation Net Book Value 2 < Required 1a Required 1b >

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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