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Question: Grayson's Lumber Mill sold two machines in 2016. The following information pertains to the...

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Question: Grayson's Lumber Mill sold two machines in 2016. The following information pertains to the two machines: Purchase Useful Salvage Depreciation Machine Cost Date Life Value ethodDateSold Pice Sales #1 $66,000 7/1/11 5yrs. $6,000 straight-line 112 $50,000 7/1/14 5 yrs. $5,000 Double-declining 12/31/16 $30,000 7/1/16 $16,000 balance Instructions: Compute the depreciation and Accumulated Depreciation on date of disposal. each machine to the Machine #1 Depreciable Depreciation Annual Cost Year X Rate Accumulated =|Depreciation Depreciation 2011 (1/2 year) 2012 2013 2014 2015 46. 47. 48. Machine #2 Depreciable DDB Rate Accumulated Annual Depreciation Depreciation Year Cost 49. 2014(1/2 year) 2015 50

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