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Calculate depreciation for the sum-of-years-digits methods

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On January 1, 2018, the Allegheny Corporation purchased machinery for $115,000. The estimated service life of the machinery is 10 years and the estimated residual value is $5,000. The machine is expected to produce 220,000 units during its life.

Required:

Question 1: Calculate depreciation for 2018 and 2019 using each of the following methods. Round all computations to the nearest dollar.

(1) Straight line

(2) Sum-of-years'-digits

(3) Double-declining balance

(4) Units of production (units produced in 2018, 30,000; units produced in 2019, 25,000)

Reference no: EM132512033

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