Oriole Ltd. purchased a new machine on April 4, 2014, at a cost of $...
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Accounting
Oriole Ltd. purchased a new machine on April 4, 2014, at a cost of $ 184,000. The company estimated that the machine would have a residual value of $ 16,000. The machine is expected to be used for 10,500 working hours during its four-year life. Actual machine usage was1,500 hours in 2014; 2,400 hours in 2015; 2,500 hours in 2016; 2,100 hours in 2017; and 2,000 hours in 2018. Oriole has a December 31 year end.
Calculate depreciation for the machine under each of the following methods:
Straight-line for 2014 through to 2018.
2014 expense | $ enter a dollar amount | ||
---|---|---|---|
2015 expense | $ enter a dollar amount | ||
2016 expense | $ enter a dollar amount | ||
2017 expense | $ enter a dollar amount | ||
2018 expense | $ |
Diminishing-balance using double the straight-line rate for 2014 through to 2018.
2014 expense | $ enter a dollar amount | ||
---|---|---|---|
2015 expense | $ enter a dollar amount | ||
2016 expense | $ enter a dollar amount | ||
2017 expense | $ enter a dollar amount | ||
2018 expense | $ enter a dollar amount |
(3) Units-of-production for 2014 through to 2018.
2014 expense | $ enter a dollar amount | ||
---|---|---|---|
2015 expense | $ enter a dollar amount | ||
2016 expense | $ enter a dollar amount | ||
2017 expense | $ enter a dollar amount | ||
2018 expense | $ |
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