On Jamuary 1, 2015, Danville Corporation acquired a machine at a cost of $60,000. The machine's...

 

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On Jamuary 1, 2015, Danville Corporation acquired a machine at a cost of $60,000. The machine's service life (4pts) was estimated to be ten years and its residual value to be $6,000. The straight-line method was used for depreciation. On Jamuary 1, 2020, the machine was no longer uneful and was sold for $3,000. For 2020, in regard to this machine, how much of a loss should Danville record? $3,000 O $27,000 O $30,000 O s60,000 On Jamuary 1, 2015, Danville Corporation acquired a machine at a cost of $60,000. The machine's service life (4pts) was estimated to be ten years and its residual value to be $6,000. The straight-line method was used for depreciation. On Jamuary 1, 2020, the machine was no longer uneful and was sold for $3,000. For 2020, in regard to this machine, how much of a loss should Danville record? $3,000 O $27,000 O $30,000 O s60,000

Answer rating: 100% (QA)

24 Depreciation per year cost salvage value number of useful li... View the full answer