Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. in recent years, crane corporation has purchased t

In recent years, Crane Corporation has purchased three machines. Because of frequent employee turnover in...

90.2K

Verified Solution

Question

Accounting

imageimage

In recent years, Crane Corporation has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. For the diminishing-balance method, Crane Corporation uses double the straight-line rate. For the units-of-production method, total machine hours are expected to be 22,750. Actual hours of use in the first 3 years were: 2019, 420; 2020, 4,270; and 2021,5,500. If Machine 2 was purchased on October 1 instead of July 1, what would be the depreciation expense for this machine in 2019 ? In 2020? Depreciation expense in 2019 \$ Depreciation expense in 2020$

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students