Reference no: EM13967650
In recent years, Farr Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Machine Acquired Cost Salvage Value Useful Life (in years) Depreciation Method 1 Jan. 1, 2012 $138,000 $54,000 8 Straight-line 2 July 1, 2013 87,000 12,000 5 Declining-balance 3 Nov. 1, 2013 99,880 8,080 7 Units-of-activity For the declining-balance method, Farr Company uses the double-declining rate. For the units-of-activity method, total machine hours are expected to be 34,000. Actual hours of use in the first 3 years were: 2013, 890; 2014, 4,500; and 2015, 5,750.
Collapse question part (a) Compute the amount of accumulated depreciation on each machine at December 31, 2015. MACHINE 1 MACHINE 2 MACHINE 3 Accumulated Depreciation at December 31 $ $ $
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