Question \#4 HomeBox Inc. a fumiture whole seller acquired new machine at a cost of...
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Question \#4 HomeBox Inc. a fumiture whole seller acquired new machine at a cost of $120,000 at the beginning of the fiscal year. The equipment as an estimated life of five year and an estimated residual value of $12,000. President of HomeBox has requested information regarding alternative depreciation methods. Expected useful life of machine is 12,000 hours. Actual annual hourly operations of the machine is as below: Required: a) Calculate yearly deprecation amount and the accumulated depreciation amount under the following methods; i) Straight line method ii) Reducing balance method iii) Double declining method iv) Units of activity method v) Sum of year digit method
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