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Duval Company Acquired a Machine on January 1, 20X1 That

Question 168

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Duval Company acquired a machine on January 1, 20X1 that cost $2,700 and had an estimated residual value of $200. Complete the following schedule using the three methods of depreciation:
A.) straight-line,
B.) units-of-production,
C.) declining-balance at 150% acceleration rate.  Method  Estimated Useful Life  Depreciation Expense  for 20X2  Accumulated  Depreciation 12/31/20×2 A. Straight Line 5 years  B. Units of Production 10,000 units (total) 1,000 units (20X1’s actual) 1,200 units (20X2’s  actual)  C. Declining Balance 5 years \begin{array} { | l | l | l | l | } \hline \text { Method } & \text { Estimated Useful Life } & \begin{array} { l } \text { Depreciation Expense } \\\text { for 20X2 }\end{array} & \begin{array} { l } \text { Accumulated } \\\text { Depreciation } \\12 / 31 / 20 \times 2\end{array} \\\hline \text { A. Straight Line } & 5 \text { years } & & \\\hline \text { B. Units of Production } & \begin{array} { l } 10,000 \text { units (total) } \\1,000 \text { units (20X1's actual) } \\1,200 \text { units (20X2's } \\\text { actual) }\end{array} & & \\\hline \text { C. Declining Balance } & 5 \text { years } & & \\\hline\end{array}

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