A company purchased a machine for $107,900 on January 1. It has an estimed residual value...
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A company purchased a machine for $107,900 on January 1. It has an estimed residual value of $3,900 and an estimated useful life of 52,000 hours. The machine was used 8,300 hours the first year. The company uses the units of production method of depreciation. Journalize the adjusting entry for depreciation for the first year. Date Account 12/31 Debit Credit A company purchased a machine for $107,900 on January 1. It has an estimed residual value of $3,900 and an estimated useful life of 52,000 hours. The machine was used 8,300 hours the first year. The company uses the units of production method of depreciation. Journalize the adjusting entry for depreciation for the first year. Date Account 12/31 Debit Credit
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Answer rating: 100% (QA)
The calculation for the depreciation expense is as follows Depreciation expen... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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