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how much Depreciation Expense should Bean record in total for all of it's long-term assets on December 31st? 2/1/20 $ 3,410,000 purchased $ 2,950,000 net
how much Depreciation Expense should Bean record in total for all of it's long-term assets on December 31st?
2/1/20 | $ 3,410,000 | purchased | |
$ 2,950,000 | net identifiable | ||
4/30/20 | $ 101,400 | patent | |
17 | legal life | ||
9 | useful life | ||
7/1/20 | $ 120,000 | legal fee | |
10 | life of trademark | ||
9/1/20 | $ 57,000 | experimental purposes | |
10/1/20 | $ 88,000 | new part | |
8 | useful life | ||
0 | salvage value | ||
$ 208,000 | book value | ||
straight line | |||
12/31/20 | $ 13,400 | original cost | |
$ 4,800 | book value | ||
$ 12,500 | new machine | ||
$ 20,200 | fair value | ||
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