On January 1, 2013, the Allegheny Corporation purchased machinery for $115,000. The estimated service life...
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On January 1, 2013, the Allegheny Corporation purchased machinery for $115,000. The estimated service life of the machinery is 10 years and the estimated residual value is $5,000. The machine is expected to produce 220,000 units during its life. Required: Calculate depreciation for 2013 and 2014 using each of the following methods. Round all computations to the nearest dollar 1. Straight-line. 2. Sum-of-the-years' digits. 3. Double-declining balance. 4. One hundred fifty percent declining balance. 5. Units of production (units produced in 2013, 30,000; units produced in 2014, 25,000)
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