E9-5 Hinshaw Company purchased a new machine on October 1,2014 , at a cost of...
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E9-5 Hinshaw Company purchased a new machine on October 1,2014 , at a cost of $90,000. The company estimated that the machine has a salvage value of $8,000. The machine is expected to be used for 70,000 working hours during its 8-year life. Instructions "E9-19 Basic information relating to a new machine purchased by Hinshaw Company is presented in E9-5. Instructions Using the facts presented in E9-5, compute depreciation using the following methods in the year indicated. (a) Declining-balance using double the straight-line rate for 2014 and 2015. (b) Units-of-activity for 2014, assuming machine usage was 3,900 hours. (Round depreciation per unit to the nearest cent.)
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