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Create depreciation schedule using each of the three methods

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Reference no: EM132472193

On January 1, 2018 Friendly Farm Company purchased a new machine at a cost of $350,000. The machine has an estimated useful life of 4 years or 100,000 hours and residual value of $30,000. The machine will be used 30,000 hours in year 1, 40,000 hours in year 2, 20,000 hours in year 3 and 10,000 hours in year 4.

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Question 1: Determine How do create a depreciation schedule using each of the three methods: Straight line, Units of Production and Double Declining Balance?

Reference no: EM132472193

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