Question:
Swanson & Hiller, Inc., purchased a new machine on September 1, 2008, at a cost of $118,000. The machine's estimated useful life at the time of the purchase was five years, and its residual value was $6,000.
1. Prepare a complete depreciation schedule, beginning with calendar year 2008, using the 200 percent declining-balance schedule method (assume that the half-year convention is used). (Round your answers to the nearest dollar amount. Omit the "tiny_mce_markerquot; sign in your response.)