on january 1, 2021, truesdale, incorporated, purchased a piece of machinery for use in operations. the total acquisition cost was $33,000. the machine was expected to produce a total of 60,000 units during its life. the machine actually produced 16,000 units during 2021, 23,000 units during 2022, and 21,000 units during 2023. the machine has a salvage value of $3,000. using the units-of-production method, the amount of depreciation that should be recorded during 2022, is approximately

There are numerous methods for depreciating assets for your books or financial statements, however the amount of depreciation expenditure reported on your books or financial statements could differ from the tax deduction you claim. Because of this, some small firms prefer to use one way for their books and another for their taxes, while others opt to make things straightforward by utilizing the tax technique of depreciation for their books.
The straight-line technique is the most typical (and easiest) way to depreciate a fixed asset. This distributes the value equally across the asset's useful life.
Direct line (Cost of an Asset - Residual Value)/Useful Life of an Asset is the depreciation method. Unit of Product Method: Useful life expressed as Units Produced/(Cost of an Asset - Salvage Value)

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