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can i get some help please 1 employee turnover in the accounting department, a different accountant was in charge of selecting the P9:2A (LO 2),
can i get some help please
1 employee turnover in the accounting department, a different accountant was in charge of selecting the P9:2A (LO 2), AP In recent years, Jayme Company has purchased three machines. Because of frequent depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Salvage Useful Life Machine Acquired Cost Value (in years) Depreciation Method Jan. 1, 2020 $96,000 $12,000 8 Straight-line 2 July 1, 2021 85,000 10,000 5 Declining-balance 3 Nov. 1, 2021 66,000 6,000 6 Units-of-activity For the declining-balance method, Jayme Company uses the double-declining 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, 800; 2022, 4,500; and 2023, 6,000. Instructions a. Compute the amount of accumulated depreciation on each machine at December 31, 2023. b. If machine 2 was purchased on April 1 instead of July 1, what would be the depreciation expense for this machine in 2021? In 2022 Step by Step Solution
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