Ivanhoe Ltd. purchased a new machine on April 4, 2017, at a cost of $188,000. The company
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Ivanhoe Ltd. purchased a new machine on April 4, 2017, at a cost of $188,000. The company estimated that the machine would have a residual value of $18,000. The machine is expected to be used for 10,000 working hours during its four-year life. Actual machine usage was 1,400 hours in 2014; 2,200 hours in 2015; 2,300 hours in 2016; 2,100 hours in 2017; and 2,000 hours in 2018. Ivanhoe has a December 31 year end.
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Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118644942
6th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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