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1. Martin Company purchases a machine at the beginning of the year at a cost of $78,000. The machine is depreciated using the straight-line method.
1. Martin Company purchases a machine at the beginning of the year at a cost of $78,000. The machine is depreciated using the straight-line method. The machines useful life is estimated to be 5 years with a $4,000 salvage value. Depreciation expense in year 4 is:
2. A company paid $39,800 plus a broker's fee of $575 to acquire 9% bonds with a $42,000 maturity value. The company intends to hold the bonds to maturity. The cash proceeds the company will receive when the bonds mature equal:
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