Cherokee company acquired a machine on january 1 2006 that

Reference no: EM13602141

Cherokee Company acquired a machine on January 1, 2006, that cost $2,700 and had an estimated residual value of $200. Complete the following schedule using the three methods of depreciation: A.) straight-line, B.) units-of-production, C.) declining-balance at 200% acceleration rate for year 2007.

Method Estimated Useful Life Depreciation Accumulated depreciation
Expense for 2007 12/31/2007
A. Straight-line 5 Years
B. Units of Production
10,000 units (total)
Actual units 1,000 in 2006
Actual units 1,200 in 2007

Reference no: EM13602141

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