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6. At the end of an asset's useful life, the balance in accumulated depreciation will (1 pt.) A. Be the same amount under all the
6. At the end of an asset's useful life, the balance in accumulated depreciation will (1 pt.) A. Be the same amount under all the depreciation methods. B. Be greater under the Units of Production method than under Straight-Line Depreciation c. Be a greater amount under Straight-Line depreciation than under Double Declining Balance depreciation D. Be a lesser amount under Double-Declining Balance depreciation than under Units of Production depreciation. 7. A machine was purchased and installed for a total cost of $8,000 on January 1, 20X1. It is assumed to have an estimated useful life of 5 years and a salvage value of $2,000. a.) Calculate depreciation expense for 20X2 and record the appropriate journal entry. (1 pt.) b.) Calculate the total amount in accumulated depreciation on December 31, 20X2. (1 pt.)
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