Maine Co. bought a new machine for $75000 on January 1, 2016. The projected useful life of the machine is 5 years and the salvage value is estimated to be $15000. Maine Co. uses annual financial statements. On 1/1/2018 Maine Co. reevaluates their machine and finds that the salvage value will be $0 at the end of its 5-year useful life. 

What is the balance in the Accumulated Depreciation account on 12/31/18?

 
 
 
 

Answer rating: 100% (QA)

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