Concord Corporation purchased a new machine on October 1,
2022 at a cost of $436,800. The company estimated that the machine
has a salvage value of $33,600. The machine is expected to be used
for 336,000 working hours during its 8-year
life.
Compute depreciation using the following methods in the year
indicated.
Straight-line for 2022 and 2023, assuming a December 31
year-end. (Round answers to 0 decimal place, e.g.
1520.)
2022
2023
Straight-line method
$enter a dollar amount
$enter a dollar amount
Declining-balance using double the straight-line rate for 2022
and 2023.
2022
2023
Declining-balance method
$enter a dollar amount
$enter a dollar amount
Units-of-activity for 2022, assuming machine usage
was 12,180 hours. (Round depreciation per unit to the
nearest cent.)
Units-of-activity method 2022
$enter depreciation using the
Units-of-activity method for 2017 in dollars rounded to the nearest
cent
