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

question 28

Essay

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. $$\begin{array} { | l | l | l | l | } \hline \text { Method } & \text { Estimated Useful Life } & \begin{array} { l } \text { Depreciation Expense } \\\text { for 20X2 }\end{array} & \begin{array} { l } \text { Accumulated } \\\text { Depreciation } \\12 / 31 / 20 \times 2\end{array} \\\hline \text { A. Straight Line } & 5 \text { years } & & \\\hline \text { B. Units of Production } & \begin{array} { l } 10,000 \text { units (total) } \\1,000 \text { units (20X1's actual) } \\1,200 \text { units (20X2's } \\\text { actual) }\end{array} & & \\\hline \text { C. Declining Balance } & 5 \text { years } & & \\\hline\end{array}$$

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Definitions:

Hostages

Individuals who are captured and held as security for the fulfillment of certain demands or conditions by another party.

Traumatized

The state of being emotionally or psychologically injured or impacted by a distressing event or series of events.

Alarm

A warning signal or device designed to alert individuals of potential danger or the need for immediate attention.

Hostage Situation

An event in which individuals are held against their will by an abductor with demands usually pertaining to money, political statements, or safe passage.