Ch 11: Homework Question 2 of 7

Ch II: Homework Question 2 Of 7 Flounder Carp, purchased a machine On July 1, 2020, for $30,800, Flounder paid $210 in title fees and a legal fee Of $225 related to the machine In addition. Flounder paid "40 in shipping charges for delivery. and 5625 to a local contractor to build and wire a platform for the machine on the plant floor. The machine has an estimated useful life ot 10 years, a total expected life of 12 years. a residual value Of $6,100 and no salvage value, Flounder uses Straight-line depreciation. Your answer is incorrect. Calculate the 2020 depreciation expense if Flounder prepares financial statements in accordance with IFRS. Depreciation expense eTextbook and Media Your answer is incorrect. Calculate the 2020 depreciation expense if Flounder prepares financial statements in accordance with ASPE. Depreciation expense