Flint Energy showed the following information in its Property, Plant and Equipment Subledger regarding a machine. On
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On September 1, 2014, the motor was replaced with a new one costing $60,000; it was purchased on account. The new motor had an estimated residual value of $10,000 and an estimated life of eight years. Calculate the total depreciation expense to be recorded on the machine for2014.
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Machine: Accum. Dep. at Dec. 31, 2013, Year-End Date of Purchase Jan. 1/10 Jan. 1/10 Jan. 1/10 Depreciation Method Straight-line Straight-line Straight-line Est. Residual S 5,000 15,000 Est. Life 10 years 25 years 5 years Cost Component Motor Metal housing Misc. parts S 45,000 68,000 15,000 $128,000 $16,000 8,480 12,000 $36,480 0-
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Motor old 45000 5000 40000 10 yrs 812 2667 Motor ...View the full answer
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Related Book For
Fundamental Accounting Principles Volume II
ISBN: 978-1259066511
14th Canadian Edition
Authors: Larson Kermit, Jensen Tilly
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