Mathematics, 05.07.2021 01:00 kohat485
In recent years, Jayme Company has purchased three machines. Because of frequent employee turnover in the accounting
department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have
been used. Information concerning the machines is summarized in the table below.
Machine
Acquired
Salvage
Value
Cost
Useful Life
(in years)
Depreciation
Method
1
Jan. 1, 2020
$96,000
$12.000
8
Straight-line
2
July 1, 2021
85.000
10,000
5
Declining-balance
3
Nov. 1, 2021
66,000
6.000
6
Units-of-activity
For the declining balance method, Jayme Company uses the double declining rate . For the units of activity method, total machine hours are expected to be 30,000. Actual hours of use in the first 3 years were: 2021,800; 2022, 4,500; and 2023, 6,000.
Accumulated depreciation at December 31:
Machine 1 ?
Machine 2. ?
Machine 3 ?
If machine 2 was purchased april 1 instead of July 1, what would the depreciation expense for this machine in 2021? I’m 2022?
Depreciation expense:
2021: ? 2022: ?
Answers: 2
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