Depreciation computations-five methods jon seceda furnace, Ask an Expert

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(Depreciation Computations-Five Methods) Jon Seceda Furnace Corp. purchased machinery for $315,000 on May 1,2007. It is estimated that it will have a useful life of 10 years, salvage value of $15,000, production of 240,000 units, and workinghours of 25,000. During 2008 Seceda Corp. uses the machinery for2,650 hours, and the machinery produces 25,500 units.

Instructions:

From the information given, compute the depreciation charge for 2008 under each of the following methods. (Round to the nearest dollar.)

Straight-line.
Units-of-output.
Working hours.
Sum-of-the-years'-digits.
Declining-balance (use 20% as the annual rate).

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Category:- Accounting Basics
Reference No.:- M9797107

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