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Matador Co. purchased a machine on January 1,2020, for $1,409,000. Using the table below,...

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Accounting

Matador Co. purchased a machine on January 1,2020, for $1,409,000. Using the table below, calculate the annual depreciation expense for each year of the machine's life (estimated at 5 years or 40,000 hours with a residual value of $150,000). During the machine's life it was used 4,000; 8,000; 16,000; 10,000; and 2,000 hours. Use twice the straight-line rate for the declining-balance method. Round to 3 decimal places for units of production.
Year Straight Line Units of Production Declining Balance
2020
2021
2022
2023
2024
Totals
Straight Line Calculation:
Units of Production Calculations:
2020
2021
2022
2023
2024
Declining Balance Calculations:
2020
2021
2022
2023
2024

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