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Cheyenne Corp. purchased a new machine on October 1, 2022, at a cost of $131,000....

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Accounting

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Cheyenne Corp. purchased a new machine on October 1, 2022, at a cost of $131,000. The company estimated that the machine will have a salvage value of $18,500. The machine is expected to be used for 10,000 working hours during its 5-year life. (a) Your answer is correct. Compute the depreciation expense under straight-line method for 2022. 2022 Depreciation expense $ 5625 (b) Your answer is correct. Compute the depreciation expense under units-of-activity for 2022, assuming machine usage was 1,900 hours. (Round depreciable cost per unit to 2 decimal places, e.g. 0.50 and final answer to O decimal places, e.g. 2,125.) 2022 Depreciation expense $ 21375 e Textbook and Media Attempts: unlimited (c) X Your answer is incorrect. Compute the depreciation expense under declining-balance using double the straight-line rate for 2022 and 2023. 2022 2023 Depreciation expense 21375 21375

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