Question: how much Depreciation Expense should Bean record in total for all of it's long-term assets on December 31st? 2/1/20 $ 3,410,000 purchased $ 2,950,000 net
how much Depreciation Expense should Bean record in total for all of it's long-term assets on December 31st?
| 2/1/20 | $ 3,410,000 | purchased | |
| $ 2,950,000 | net identifiable | ||
| 4/30/20 | $ 101,400 | patent | |
| 17 | legal life | ||
| 9 | useful life | ||
| 7/1/20 | $ 120,000 | legal fee | |
| 10 | life of trademark | ||
| 9/1/20 | $ 57,000 | experimental purposes | |
| 10/1/20 | $ 88,000 | new part | |
| 8 | useful life | ||
| 0 | salvage value | ||
| $ 208,000 | book value | ||
| straight line | |||
| 12/31/20 | $ 13,400 | original cost | |
| $ 4,800 | book value | ||
| $ 12,500 | new machine | ||
| $ 20,200 | fair value | ||
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