Sutter Company purchased a machine on January 1, 20X1, for $16,000. The machine has an estimated useful life of 5 years and a $1,000 residual value. It is now December 31, 20X2, and Sutter is in the process of preparing financial statements. Complete the following schedule assuming declining-balance method of depreciation with a 150% acceleration rate. $$\begin{array} { | l | l | l | }
\hline \text { Date } & \begin{array} { l }
\text { Depreciation Expense (for the } \
\text { year) }
\end{array} & \text { Book Value (end of the year) } \
\hline 12 / 31 / 20X 1 & & \
\hline 12 / 31 / 20 X 2 & & \
\hline
\end{array}$$

Question

Sutter Company purchased a machine on January 1, 20X1, for $16,000. The machine has an estimated useful life of 5 years and a $1,000 residual value. It is now December 31, 20X2, and Sutter is in the process of preparing financial statements. Complete the following schedule assuming declining-balance method of depreciation with a 150% acceleration rate. $$\begin{array} { | l | l | l | } 
\hline \text { Date } & \begin{array} { l } 
\text { Depreciation Expense (for the } \
\text { year) }
\end{array} & \text { Book Value (end of the year) } \
\hline 12 / 31 / 20X 1 & & \
\hline 12 / 31 / 20 X 2 & & \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of Sutter Company purchased a machine on January 1, 20X1, for $16,000. The machine has an estimated useful life of 5 years and a $1,000 residual value. It is now December 31, 20X2, and Sutter is in the process of preparing financial statements. Complete the following schedule assuming declining-balance method of depreciation with a 150% acceleration rate. $$\begin{array} { | l | l | l | } 
\hline \text { Date } & \begin{array} { l } 
\text { Depreciation Expense (for the } \
\text { year) }
\end{array} & \text { Book Value (end of the year) } \
\hline 12 / 31 / 20X 1 & & \
\hline 12 / 31 / 20 X 2 & & \
\hline
\end{array}$$

Sutter Company Purchased a Machine on January 1, 20X1, for $16,000