On january 1 2011 the allegheny corporation purchased

Reference no: EM13570760

On January 1, 2011, 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 2011 and 2012 using each of the following methods. 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 2011, 30,000; units produced in 2012, 25,000)

Reference no: EM13570760

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