Sandhill Limited purchased a machine on account on April 1, 2021, at an invoice price of $332,220. On April 2, it paid $

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Sandhill Limited Purchased A Machine On Account On April 1 2021 At An Invoice Price Of 332 220 On April 2 It Paid 1 (97.19 KiB) Viewed 8 times

Sandhill Limited purchased a machine on account on April 1, 2021, at an invoice price of $332,220. On April 2, it paid $2,170 for delivery of the machine. A one-year, $3,960 insurance policy on the machine was purchased on April 5. On April 19, Sandhill paid $7,840 for installation and testing of the machine. The machine was ready for use on April 30. Sandhill estimates the machine's useful life will be five years or 6,153 units with a residual value of $77,180. Assume the machine produces the following numbers of units each year: 953 units in 2021; 1,483 units in 2022; 1,279 units in 2023; 1,390 units in 2024; and 1,048 units in 2025. Sandhill has a December 31 year end.
(a) Your answer is correct. Determine the cost of the machine. Cost of the machine eTextbook and Media 342,230 Attempts: 1 of 3 used
(b) Calculate the annual depreciation and total depreciation over the asset's life using: (Round the depreciation cost per unit to 2 decimal places. Round answers to O decimal places, e.g. 5,275.) (1) Straight-line method Year 2021 2022 2023 2024 2025 2026 $ Depreciable Amount $ Depreciation Expense Accumulated Depreciation $ |||| $ Carrying Amoun
(2) Double-diminishing-balance method Year 2021 2022 2023 2024 2025 2026 Opening Carrying Amount $ $ Depreciation Expense Accumulated Depreciation LA $ Carrying Amour
(3) Units-of-production method Year 2021 2022 2023 2024 2025 Units-of-production Depreciation Expense Accumulated Depreciation Which method causes net income to be lower in the early years of the asset's life? Carrying Amount