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Q3- Abdulaziz company purchased a machine in 2013 for 50,000 that has a useful life of...

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Accounting

Q3- Abdulaziz company purchased a machine in 2013 for 50,000that has a useful life of 5 years with a salvage value of 5,000

Calculate the depreciation expense, accumulated depreciation,book value throughout its useful life using:

1- Straight-line method.

2- Units of Production method if the machine produces 100,000units.

Here is a table of units produced each year:

First

Second

Third

Fourth

Fifth

23,000

25,000

-

30,000

22,000

3- Double Declining balance method.

Answer & Explanation Solved by verified expert
3.5 Ratings (254 Votes)
Answer 1 Straightline method Cost Salvage value Estimated useful life 50000 5000 5 years 9000 Year Book Value Year Start Depreciation Expense Accumulated Depreciation Book Value Year End 2013 50000 9000 9000 41000 2014 41000 9000 18000 32000 2015 32000 9000 27000 23000    See Answer
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