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Stone Lion Corporation purchased equipment on January 1, 2004 with a cost basis of $30,000,...

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Accounting

Stone Lion Corporation purchased equipment on January 1, 2004 with a cost basis of $30,000, estimated residual value of $5,000, and a five-year life. The equipments total expected output is 10,000 units. Actual production for each year was as follows: 2004: 2,000 units; 2005: 2,800 units; 2006: 1,700 units; 2007: 1,500 units; 2008: 2,000 units

Prepare a schedule showing the depreciation and book value information for each of the following methods listed below:

STRAIGHT-LINE

End of year Calculation Depr. Exp. Accum. Depr. Book Value

2004

2005

2006

2007

2008

Total

UNITS-OF-PRODUCTION

End of year Calculation Depr. Exp. Accum. Depr. Book Value

2004

2005

2006

2007

2008

Total

DOUBLE-DECLINING BALANCE

End of year Calculation Depr. Exp. Accum. Depr. Book Value

2004

2005

2006

2007

2008

Total

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