I need help with my financial accounting homework ASAP PLZ. ?
I need help with my financial accounting homework ASAP PLZ. Winston company purchased a new machine on October 1 2017 at a cost of $120000. The company estimated that the machine will have a saving value of $12000. The machine is expected to be used for 12 working hours during it's 4 year life.
Compute the depreciation expense under the following methods for the year indicated.
(a) straight line for 2017
(b) units of activity for 2017, assuming machine usage was 17 hours
(c) Declining balance using 50% annual depreciation rate for 2017 and 2018.