In: Accounting
Monty Corp. purchased a new machine on October 1, 2019, at a cost of $124,000. The company estimated that the machine will have a salvage value of $15,000. The machine is expected to be used for 10,000 working hours during its 4-year life.
Compute the depreciation expense under straight-line method for
2019. (Round answer to 0 decimal places, e.g.
2,125.)
2019 |
||
---|---|---|
Depreciation expense |
$ |
Compute the depreciation expense under units-of-activity for
2019, assuming machine usage was 1,860 hours. (Round
depreciable cost per unit to 2 decimal places, e.g. 0.50 and
depreciation rate to 0 decimal places, e.g. 15%. Round final answer
to 2 decimal places, e.g. 2,125.25.)
2019 |
||
---|---|---|
Depreciation expense |
$ |
Compute the depreciation expense under declining-balance using
double the straight-line rate for 2019 and 2020. (Round
answers to 0 decimal places, e.g. 2,125.)
2019 |
2020 |
|||
---|---|---|---|---|
Depreciation expense |
$ |
$ |