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Compute the depreciation expense

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Reference no: EM132431818

Question - Sheridan Company purchased a new machine on October 1, 2020, at a cost of $119,000. The company estimated that the machine will have a salvage value of $12,500. The machine is expected to be used for 10,000 working hours during its 4-year life.

Part 1 - Compute the depreciation expense under straight-line method for 2020.

Part 2 - Compute the depreciation expense under units-of-activity for 2020, assuming machine usage was 1,790 hours.

Part 3 - Compute the depreciation expense under declining-balance using double the straight-line rate for 2020 and 2021.

Reference no: EM132431818

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