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I need help with 25 through 27. I've confused myself Mastering Depreciation 25. A company pays $30,000 for two machines. Machine A is appraised at

I need help with 25 through 27. I've confused myself

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Mastering Depreciation 25. A company pays $30,000 for two machines. Machine A is appraised at a fair market value 0f'$24,000 and Machine B at a falr market value of $8,000. The cost of Machine B is recorded for book purposes at . . . a. $7,500 b. $8,000 c. $24,000 d. $30,000 -year corporation purchases a new passenger 26. On July 1, 2016, a calendar ax depreciation allowed on the auto in auto for $25,000. The maximum t 2016 is . . . a$15,000 b.'$12,500 'c.$11,160 d.$7,660 27. For the asset in Question 26, maximum depreciation in Year 6 Will be . a. $0 b. $720 0. $1,875 d. $1,617 ' ""n the following information to answer Questions 28-30: On January 2, 2016, mages a machine for $11,000 and estimates that it Will have i residual value of $1,000 It is depreciating the machine under the straight-line method. arnal entry to record Year 1 depreciation for a iring company? ciation Expense LOOO iccumulated Depreciation-Machine 1,000 awry-Work-In-Process OH 1,000 Wulated Depreciation-Machine 1,000 d'etntnmiim Expense .,i:x,uc:rmi ulated Depreciation-Machine 4,000

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