VanHoutte Foods bought machinery on September 10, 2018, for $168,000. It was determined that the machinery would
Question:
VanHoutte Foods bought machinery on September 10, 2018, for $168,000. It was determined that the machinery would be used for six years or until it produced 260,000 units and then would be sold for about $27,600. Complete the schedule below by calculating annual depreciation to the nearest whole month for 2018, 2019, and 2020. VanHoutte?s year-end is December 31.
Assume actual units produced of:
Analysis Component: If depreciation is not recorded, what is the effect on the income statement and balance sheet?
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Depreciation Year StraightLine 1 UnitsofProduction 3 2018 7800 23220 2019 23400 42660 2020 23...View the full answer
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Related Book For 
Fundamental Accounting Principles Volume I
ISBN: 978-1260305821
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
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