question archive On October 5, 2001, NOON C

On October 5, 2001, NOON C

Subject:AccountingPrice: Bought3

On October 5, 2001, NOON C. acquired a new machine at a cost of Birr 20,000. T he
machine has a useful life of 5 years and salvage value of Br. 10,000. It is estimated that the
equipment will produce 2,000,000 units of products throughout its life. The equipment
produced 95,000 units and 300,000 units of products during the fiscal periods ending
December 31, 2001 and December 31, 2002 respectively. On the basis of the above data,
compute depreciation expense to be recorded on Dec. 31, 2002 using:
i. The units of production method
ii. The declining-balance method
ii. The sum-of-years-digits method
iv. The straight-line method


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