Depreciation A company purchased a machine on January 1 of the current year for $800,000. Calculate the annual depreciation expense for each year of the machine's life (estimated at 5 years or 25,000 hours, with a salvage value of $80,000). During the machine's 5-year life its hourly usage was: 4,500; 4,000; 6,000; 6,000; and 4,500 hours. Double - Units-of Declining - Balance Year Year 1 Straight-Line Production Year 2 Year 3 Year 4 Year 5 Total Prepare the journal entry to dispose of the machine on Jan. year 6 assuming it was sold for $90,000 cash of
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Home » Business » Depreciation A company purchased a machine on January 1 of the current year for $800,000. Calculate the annual depreciation expense for each year of the machine's life (estimated at 5 years or 25,000 hours, with a salvage value of $80,000).