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234.(18 points) On January 2, 20x7, Topanga Company purchased a machine for $90,000. The machine has a five-year estimated useful life and a S6,000 estimated
234.(18 points) On January 2, 20x7, Topanga Company purchased a machine for $90,000. The machine has a five-year estimated useful life and a S6,000 estimated residual value. In addition, the company expects to use the machine 200,000 hours. Assuming that the machine was used 35,000 hours during 20x8, complete the following chart. If a figure cannot be determined, indicate so by placing an X in the box. (Show your work.) Method Depreciation Expense for 20x8 Carrying Value at 12/31/20x8 Straight-line Production Double-declining-balance
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