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Schrade Company bought a machine for $124,000 cash. The estimated useful life was four years,...

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Accounting

Schrade Company bought a machine for $124,000 cash. The estimated useful life was four years, and the estimated residual value was $6,960. Assume that the estimated useful life in productive units is 133,000. Units actually produced were 56,000 in year 1 and 58,000 in year 2.

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Required: 1. Determine the appropriate amounts to complete the following schedule. (Round your answers to the nearest dollar amount. Do not round intermediate calculations.) Depreciation Expense for Net Book Value at the End of Year 2 Year 2 Method of Depreciation Straight-line Units-of-production Double-declining-balance Year 1 Year 1

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