Answered step by step
Verified Expert Solution
Question
1 Approved Answer
can someone help me solve 3a,b,c,d ? 3. A new machine was purchased on September 1, 2020 for $30,000. It's expected to last for 4
can someone help me solve 3a,b,c,d ? 3. A new machine was purchased on September 1, 2020 for $30,000. It's expected to last for 4 years at which time it would have a value of $6000 a. Straight-Line (5 marks) 2020 2021 2022 2023 2024 b. Declining Balance Use the 50% rule (8 marks) Original Cost/Book Value 2020 Depreciation Expense Undepreciated Value 2021 2022 2023 c. Journalize the adjusting entry for 2021 using the declining balance figure from above. (2 marks) d. What is the value of the machine at the end of 2023 using the declining balance method from above? (1 mark)
can someone help me solve 3a,b,c,d ?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started