Moyle Co. acquired a machine on January 1, 2016, at a cost of $2,400,000. The...
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Moyle Co. acquired a machine on January 1, 2016, at a cost of $2,400,000. The machine is expected to have a five-year useful life, with a salvage value of $150,000. The machine is capable of producing 300,000 units of product in its lifetime. Actual production was as follows: 60,000 units in 2016; 40,000 units in 2017; 80,000 units in 2018; 50,000 units in 2019; and 70,000 units in 2020 Accumulated Depreciation C. Accumulated Depreciation 960,000 576,000 345,600 207,360 124,416 12/31/16 12/31/17 12/31/18 12/31/19 12/31/20 450,000 450,000 450,000 450,000 450,000 12/31/16 12/31/17 12/31/18 12/31/19 12/31/20 Accumulated Depreciation Accumulated Depreciation 450,000 300,000 600,000 375,000 525,000 12/31/16 12/31/17 12/31/18 12/31/19 12/31/20 720,000 504,000 352,800 246,960 172,872 12/31/16 12/31/17 12/31/18 12/31/19 12/31/20 Required Refer to the above T-accounts, identify the depreciation method that would result in each of the following annual credit amount patterns to accumulated depreciation. If a declining-balance method is used, indicate the percentage (150% or 200%). (Hint: What do the amounts shown for each year represent?) Event Depreciation method
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