P9-3A. Depreciation Methods On January 2, 2018, Skyler, Inc. Purchased a laser cutting machine to...
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P9-3A. Depreciation Methods On January 2, 2018, Skyler, Inc. Purchased a laser cutting machine to be used in the fabrication of a part of its key products. The machine cost $12,000, and its estimated useful life was four years or 920,000 cuttings, after which it could be sold for $5,000.
Required
a. Calculate each year's depreciation expense for the period 2018-2021 under each of the following depreciation methods:
1. Straight line.
2. Double-declining balance.
3. Units-of-production. Assume annual production in cutting of $200,000; 350,000; 260,000; and 110,000.
b. Assume that the machine was purchased on July 1, 2018. Calculate each year's depreciation expense for the period 2018-2022 under each of the following depreciation methods:
1. straight-line
2. Double declining balance.
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