Question: Solve for the missing items, assuming straight-line depreciation is used: Machine A Machine B Machine C Cost $170,000 $80,000 I Residual value $10,000 E $20,000
Solve for the missing items, assuming straight-line depreciation is used:
| Machine A | Machine B | Machine C | |
| Cost | $170,000 | $80,000 | I |
| Residual value | $10,000 | E | $20,000 |
| Useful life (years) | 25 | F | 20 |
| Depreciation rate | A | 25.0% | J |
| Annual depreciation amount | B | $10,000 | $13,000 |
| Number of years owned | 14 | 2.5 | K |
| Accumulated depreciation at disposal date | C | G | L |
| Proceeds of disposal | $95,000 | H | $220,000 |
| Gain (loss) on disposal | D | $5,000 | $18,000 |
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
Study Help