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a . Gold Co . acquired a machine on Jan. 1 , 2 0 2 3 , at a cost of 5 6 , 0

a. Gold Co. acquired a machine on Jan. 1,2023, at a cost of 56,000. The machine has an estimated salvage value of $3,500 at the end of its 7-year useful life. The depreciation adjustment is done at the end of every calendar year.
Depreciation method
Depreciation expense for 2023Depreciation expense for 2024
Book value as of Dec. 31,2024
Sum-of-the-years' - digitsD
ouble declining balance
Silver Co. acquired a machine on November 1,2023, at a cost of $56,000. The machine has an estimated salvage value of $ 3,500 at the end of its 7-year useful life. The depreciation adjustment is done at the end of every calendar year.
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