On January 24th, the Korab Inc. acquired a new packing machine for the production line with...
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On January 24th, the Korab Inc. acquired a new packing machine for the production line with an estimated useful life of ten years. The price of the machine was $150,000. Transportation costs were $6,000 and Transportation Insurance was $4,000 as well as Maintenance Cost are $5,000 per year. Instruction: (show your calculations and round to 2 decimal places) Using the 200% Declining Balance Method, (a) what is the carrying amount of the machine ending of year "Three"? (b) how high is the Depreciation Expense in Dollars in year "Four"? (c) what is the carrying amount of the machine beginning of year "Seven"? Explain your result! On January 24th, the Korab Inc. acquired a new packing machine for the production line with an estimated useful life of ten years. The price of the machine was $150,000. Transportation costs were $6,000 and Transportation Insurance was $4,000 as well as Maintenance Cost are $5,000 per year. Instruction: (show your calculations and round to 2 decimal places) Using the 200% Declining Balance Method, (a) what is the carrying amount of the machine ending of year "Three"? (b) how high is the Depreciation Expense in Dollars in year "Four"? (c) what is the carrying amount of the machine beginning of year "Seven"? Explain your result!
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Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Posted Date:
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