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ill give a thumps up if you do it right and fast ...

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Accounting

ill give a thumps up if you do it right and fast
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Knight Koal Company. Inc. purchased a new mining machine at a total cost of $1,800,000 on the first day of its fiscal year. The firm estimates that the machine has a useful life of 6 years or 8,000,000 tons of coal and a residual value of $120,000 at the end of its useful life. The following schedule indicates the actual number of tons of coal mined with the machine per year: (Click the icon to view the schedule.) Read the requirements. Requirement a. Prepare the depreciation schedule for the machine assuming that Knight Koal used the straight-line method. Data table Requirements Prepare the depreciation schedules for the machine assuming that Knight Koal used the following methods (each case is independent): a. Straight-line method. b. Units-of-output method. c. Double-declining balance method. (Adjust the depreciation expense in the last year to the necessary amount to arrive at an ending book value equal to the scrap value.) d. Knight Koal sells the mining machine for $935,000 at the end of Year 3 . What is the gain or loss on sale under each of the depreciation methods in parts (a)-(c)

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