Question
Coronado Corporation bought equipment on January 1, 2018. The equipment cost $370000 and had an expected salvage value of $60100. The life of the equipment
Coronado Corporation bought equipment on January 1, 2018. The equipment cost $370000 and had an expected salvage value of $60100. The life of the equipment was estimated to be 6 years. The depreciable cost of the equipment is
$51650.
$209900.
$370000.
$309900.
Marigold Company purchased machinery with a list price of $95200. They were given a 10% discount by the manufacturer. They paid $420 for shipping and sales tax of $4500. Marigold estimates that the machinery will have a useful life of 10 years and a residual value of $30500. If Marigold uses straight-line depreciation, annual depreciation will be
$6010.
$9070.
$5968.
$5518.
Swifty Company purchased equipment on January 1, 2018, at a total invoice cost of $1110000. The equipment has an estimated salvage value of $32000 and an estimated useful life of 5 years. What is the amount of accumulated depreciation at December 31, 2019, if the straight-line method of depreciation is used?
$215600
$444000
$431200
$222000
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