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  3. asap isla's surfing company purchased a brand n

asap Isla's Surfing Company purchased a brand new board shaper for $780,000....

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Accounting

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Isla's Surfing Company purchased a brand new board shaper for $780,000. The shaper was shipped from New Zealand at a cost of $50,000 and while importing it, Isla paid $10,000 in foreign fees. The shaper also had to be mounted in a permanent housing at a cost of $10,000. It is estimated that the machine will have a $50,000 salvage value at the end of its 4 -year useful service life. The maximum estimated board production is 100,000 boards: 40,000 in year one, 28,000 in year two, 20,000 in year three, and 12,000 in year four, respectively. Instructions: Compute the total cost, then using the straight line and units of activity methods, prepare a schedule that shows the 1) annual depreciation expense, 2) annual accumulated depreciation, and 3) net book value on the machine for each of the years in its 4-year life. Important: Do NOT enter dollar signs, extra spaces, punctuation, or trailing zeroes. For example, enter $100,000 as 100

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