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50,522 is not the right answer. In recent years, Crane Company has purchased three machines. Because of frequent employee turnover in the accounting department, a
50,522 is not the right answer.
In recent years, Crane Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below Machine Useful Life in years) Depreciation Method Acquired Jan 1, 2020 July 1, 2021 Nov. 1, 2021 Cost 5121,500 71,000 100 Salvage Value $11,500 12,000 8.100 Declining-balance Units of activity For the declining-balance method, Crane Company uses the double-dedining rate for the units of activity method, total machine hours are expected to be 30,000. Actual hours of use in the first 3 years were: 2021, 710; 2022, 5,900; and 2023, 7,300. Your answer is partially correct. Try again. Compute the amount of accumulated depreciation on each machine at December 31, 2023. MACHINE 3 Accumulated Depreciation at December 31 32 T 27820 Step by Step Solution
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