1. A company purchases a machine for its manufacturing facility for $90,000 and is expected to...

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1. A company purchases a machine for its manufacturing facility for $90,000 and is expected to have a scrap value of $10,000. The machinery is estimated to have a useful life of 5 years. What is the proper entry to record the year-end adjustment annual depreciation amount, using the straight-line method is used? 2. A company purchased a truck for $25,000 on January 1 and as of December has not recorded any depreciation. The truck is estimated to have a useful life of 10 years, and straight-line depreciation is used. What is the annual depreciation if the salvage value is $5,000? 1. A company purchases a machine for its manufacturing facility for $90,000 and is expected to have a scrap value of $10,000. The machinery is estimated to have a useful life of 5 years. What is the proper entry to record the year-end adjustment annual depreciation amount, using the straight-line method is used? 2. A company purchased a truck for $25,000 on January 1 and as of December has not recorded any depreciation. The truck is estimated to have a useful life of 10 years, and straight-line depreciation is used. What is the annual depreciation if the salvage value is $5,000?

Answer rating: 100% (QA)

1 To record the yearend adjustment for annual depreciation usin... View the full answer