Solution-Double declining balance, 1.On October 1, 2013,

Double declining balance

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1.On October 1, 2013, the Allegheny Corporation purchased machinery for $115,000. The estimated service life of the machinery is 10 years and the estimated residual value is $5,000. The machine is expected to produce 220,000 units during its life.

Required:
Calculate depreciation for 2013 and 2014 using each of the following methods. Partial year depreciation is calculated based on the number of months the asset is in service. Round all computations to the nearest dollar.
1. Straight line.
2. Sum of the years digits.
3. Double declining balance.
4. One hundred fifty percent declining balance.
5. Units of production (units produced in 2013, 10,000; units produced in 2014, 25,000).

Reference no: EM13881814

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Double declining balance

Reference no: EM13881814

Reference no: EM13881814

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