Business, 23.04.2021 16:10 tamiawilliams3pe55hs

Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $33,000. The estimated useful life was five years and the residual value was $3,500. Assume that the estimated productive life of the machine is 10,000 units. Expected annual production was year 1, 2,000 units; year 2, 3,000 units; year 3, 2,000 units; year 4, 2,000 units; and year 5, 1,000 units. Required:
1. Complete a depreciation schedule for each of the alternative methods.
a. Straight-line.
b. Units-of-production.
c. Double-declining-balance.
2. Which method will result in the highest net income in year 2? Does this higher net income mean the machine was used more efficiently under this depreciation method? Complete this question by entering your answers in the tabs below. Req 1C Req 2A Req 2B Complete a depreciation schedule for Straight-line method. (Do not round intermediate calculations.) Income Statement Balance Sheet Depreciation Expense Accumulated Depreciation Book Value Year Cost At acquisition 4

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Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $33,000. Th...

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