Given the data, prepare a depreciation table(Depreciation Expense, AccumulatedDepreciation, Carrying Amount) for thefollowing methods:1. Straight line2. Service hours3. Production methodAlso, identify the Gain or Loss for each year andevery deprecation method if the machine issold at:End of 1st Yr - 500,000End of 2nd Yr - 360,000End of 3rd Yr - 260,000End of 4th Yr - 165,000End of 5th Yr - 40,000 Prea residual value of P35,000.Amicable Company purchased a machine at a cost of P635,000The estimated useful life is 5 years, 60,000 service hours andJanuary 1, 2020. It was estimated that the machine wouldonhave a150,000 production units.Actual operationsService hoursUnit produced2020202120222023202414,00013,00010,00011,00012,00034,00032,00025,00029,00030,000Required:Prepare a depreciation table for the following methods:a. Straight lineb. Service hoursc. Production method

The depreciation expense is charged on fixed assets as reduction in the value of fixed assets with…

Amicab 50,000 production units. have a residual value of P35,000. The estimated useful life is 5 years, 60,000 service hours and January 1, 2020. It was estimated that the machine would ed a machine at a cost of P635,000 on a ctual operations Service hours 2020 Unit produced 2021 2022 2023 14,000 13,000 10,000 11,000 34,000 32,000 25,000 29,000

Amicab 50,000 production units. have a residual value of P35,000. The estimated useful life is 5 years, 60,000 service hours and January 1, 2020. It was estimated that the machine would ed a machine at a cost of P635,000 on a ctual operations Service hours 2020 Unit produced 2021 2022 2023 14,000 13,000 10,000 11,000 34,000 32,000 25,000 29,000

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion

Section: Chapter Questions

Problem 29CE

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