Equipment was purchased on January 1, 2017 for $70,000. The asset is expected to last for four years, at which time the estimated residual value will be $12,000.
Using the same purchase information and residual value at the beginning of the question, assume that the company uses the units-of-production method. The asset can produce one million units. Prepare the depreciation table.
|Year||Cost of Long-Term Asset||Units Produced||Depreciation Expense||Accumulated Depreciation||Net Book Value|
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