Question: At the beginning of the year Plummer s Sports Center bought

At the beginning of the year, Plummer’s Sports Center bought three used fitness machines from Advantage, Inc. The machines immediately were overhauled, installed, and started operating. The machines were different; therefore, each had to be recorded separately in the accounts.


By the end of the first year, each machine had been operating 4,800 hours.
Required:
1. Compute the cost of each machine.
2. Give the entry to record depreciation expense at the end of year 1, assuming thefollowing:


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  • CreatedDecember 12, 2011
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