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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).
Describe one researched accounting position
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