Reference no: EM13554915
In recent years, Darnell Company purchased three machines. Because of heavy turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and each selected a different method. Information concerning the machines is summarized below.
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Machine
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Acquired
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Cost
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Salvage
Value
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Useful Life
in Years
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Depreciation
Method
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1
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1/1/11
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$105,000
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$ 5,000
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10
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Straight-line
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2
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1/1/12
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180,000
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10,000
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8
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Declining-balance
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3
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11/1/14
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125,000
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15,000
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6
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Units-of-activity
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For the declining-balance method, the company uses the double-declining rate. For the units-of-activity method, total machine hours are expected to be 25,000. Actual hours of use in the first 3 years were 2014, 2,000; 2015, 4,500; and 2016, 5,500.
Instructions
(a) Compute the amount of accumulated depreciation on each machine at December 31, 2014.
(b) If Machine 2 had been purchased on May 1 instead of January 1, what would be the depreciation expense for this machine in (1) 2012 and (2) 2013?
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