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Question
Waterway Corporation purchased a new machine for its assembly process on August 1, 2017. The cost of this machine was $141,480. The company estimated that the machine would have a salvage value of $15,480 at the end of its service life. Its life is estimated at 5 years, and its working hours are estimated at 21,900 hours. Year-end is December 31.
Compute the depreciation expense under the following methods. Each of the following should be considered unrelated.
(a) Straight-line depreciation for 2017 $ 10,500
(b) Activity method for 2017, assuming that machine usage was 850 hours 4,888
(c) Sum-of-the-years'-digits for 2018 38,500
(d) Double-declining-balance for 2018
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