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Question: On January 1, 2009, Lee purchased a machine for $100,000. The estimated life of the machine was 1…
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Show transcribed image text On January 1, 2009, Lee purchased a machine for $100,000. The estimated life of the machine was 10 years, with an residual value of $20,000. The service life in terms of "output" is estimated at 15,000 hours of operation and the hours used in 2009 was 500. Refer to the above data. Assume Lee uses straight-line depreciation. What is the Book Value shown on Lee's December 31, 2009 Balance Sheet? _____ Refer to the data above. Assume Lee uses double-declining-balance depreciation. Depreciation expense to be recognized in 2010 (the second year of ownership) is: _____ Refer to the data above. Depreciation expense for 2009 using the units of production method would be: _____

On January 1, 2009, Lee purchased a machine for $100,000. The estimated life of the machine was 10 years, with an residual value of $20,000. The service life in terms of "output" is estimated at 15,000 hours of operation and the hours used in 2009 was 500. Refer to the above data. Assume Lee uses straight-line depreciation. What is the Book Value shown on Lee's December 31, 2009 Balance Sheet? _____ Refer to the data above. Assume Lee uses double-declining-balance depreciation. Depreciation expense to be recognized in 2010 (the second year of ownership) is: _____ Refer to the data above. Depreciation expense for 2009 using the units of production method would be: _____

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