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At the beginning of the year, Palermo Brothers, Incorporated, purchased a new plastic water bottle-making...

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Accounting

At the beginning of the year, Palermo Brothers, Incorporated, purchased a new plastic water bottle-making machine at a cost of $56,000. The estimated residual value was $6,000. Assume that the estimated useful life was four years and the estimated productive life of the machine was 500,000 units. Actual annual production was as follows:
\table[[Year Units,],[1,150,000],[2,110,000],[3,137,500],[4,102,500]]
Requlred:
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 1B
Req 1C
Complete a depreciation schedule using the double-declining-balance method.
\table[[Year,\table[[Depreciation],[Expense]],\table[[Accumulated],[Depreciation]],\table[[Net],[Book Value]]],[At acquisition,,,],[1,,,],[2,,,],[3,,,],[4,,,]]
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