Aurora Manufacturing Inc. purchased and later sold a machine. Details relating to the machine are below....

  

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Aurora Manufacturing Inc. purchased and later sold a machine. Details relating to the machine are below. Acquisition cost $162,000 Date of purchase 1-Oct-20 Date put into use 1-Nov-20 Estimated useful life in years 8 Estimated residual value $18,000 Date of disposal 1-Aug-24 Proceeds of disposal $88,000 REQUIRED: Complete a depreciation chart for this machine and then answer the following questions. The company has a December 31 year end. ENTRY RULES: Enter digits (whole numbers) only - no commas, dollar signs, decimal points or pennies. What is the depreciable amount of the machine? Aurora Manufacturing Inc. purchased and later sold a machine. Details relating to the machine are below. Acquisition cost $162,000 Date of purchase 1-Oct-20 Date put into use 1-Nov-20 Estimated useful life in years 8 Estimated residual value $18,000 Date of disposal 1-Aug-24 Proceeds of disposal $88,000 REQUIRED: Complete a depreciation chart for this machine and then answer the following questions. The company has a December 31 year end. ENTRY RULES: Enter digits (whole numbers) only - no commas, dollar signs, decimal points or pennies. What is the depreciable amount of the machine?

Answer rating: 100% (QA)

Depreciation Chart for Machine Year Ending D... View the full answer