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Bella Industries Inc. purchased a new machinery from Japan fo $87,000 on March 1, 2016. The company are the things may Freight and insurance while
Bella Industries Inc. purchased a new machinery from Japan fo $87,000 on March 1, 2016. The company are the things may Freight and insurance while in transit for now machinery Site preparation, installation and assembly Software engineer consultant fees to help with setup Special plumbing factures required for new machinery Ongoing lubricating and adjusting of machinery Insurance premium paid on the machinery for its first year of operations 12.000 7,500 1,500 8.000 1,300 1,500 The life of the machinery is 10 years, with a residual value of $10,000. The company uses declining balance method for depreciation. The company policy ording acquisition or disposal. The company year end is Dec 31. At the end of year 2019, the fair value for the machinery was $754,825. The company uses the proportional method for revalising the www machinery Requirements: Round all answers to the nearest whole numbers. No decimal places. a) What were the depreciation expenses for 2018 and 2019? Show all calculations for full marks
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