Bodacious engineering inc purchased a new factory machine

Reference no: EM13597881

PART B: Bodacious Engineering Inc. purchased a new factory machine on January 1, 2008 for $110,000. The machine has an estimated economic life of 10 years and an estimated residual value of $15,000. It is further estimated that the machine will be used between 1,400 and 2,500 hours each year with an annual average of 1,900 hours over the 10 year estimated life. The actual use over the last three years was:

2008 1,800 hours
2009 2,200 hours
2010 1,600 hours

Required: Compute depreciation expense for 2010 and accumulated depreciation as at December 31, 2010 for each of the three depreciation methods: Straight-line, Units-of-production, and Double-declining-balance.

Reference no: EM13597881

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