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I need help with these questions please. Determination of Acquition Cost On Janusary 1, 2015, Emming Corporation purchased some machinery. The machinery has an estimated
I need help with these questions please. Determination of Acquition Cost On Janusary 1, 2015, Emming Corporation purchased some machinery. The machinery has an estimated life of 10 years and an estimated residual value of $5,000. The depreciation expense on this machinery was $20,000 in 2017 Required: Compute the acquisition cost of the equipment under the following depreciation methods: 1. Straight-line {- 9,375/X 2. Sum-of-the-years-digits $ 18,750 x 3. Double-dedining-balance 14,062X Check My Work 1. Straight-line method: For this exercise, you should insert the known values into the following equation and solve for the unknown Depreciation- (Cost- Residual value) + Useful Life For this exercise, you should insdst the known values into the following equation and solve for the unknown. Depreciation (Cost - Residual value) x S-Y-D factor s-Y-D factor - The denominator of the fraction is the sum of the years of the asset's service life. The numerator of the fraction is the number of years remaining in the asset's life as of the beginning of the year. Sum-of the-years digits10x155
I need help with these questions please.
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