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I was able to do the math but got the final total wrong. The three I calculated were added together (calculated 2700, 2600, and 1450.)
I was able to do the math but got the final total wrong. The three I calculated were added together (calculated 2700, 2600, and 1450.)
Required information (The following information applies to the questions displayed below.) At the beginning of the year, Plummer's Sports Center bought three used fitness machines from Brunswick Corporation. The machines immediately were overhauled, installed, and started operating. The machines were different; therefore, each had to be recorded separately in the accounts. Invoice price paid for asset Installation costs Renovation costs prior to use Machine A Machine B Machine C $ 9,800 $ 35,500 $ 11,000 2,300 1,600 1,800 2,600 3,000 1,700 By the end of the first year, each machine had been operating 5,200 hours. 2. Prepare the entry to record depreciation expense at the end of Year 1, assuming the following. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) ESTIMATES Machine . B Life 5 years 76,000 hours 5 years Residual Value $1,200 2,100 2,100 Depreciation Method Straight-line Units-of-production Double-declining-balance View transaction list View journal entry worksheet No Transaction Debit Credit 1 1 General Journal Depreciation expense Accumulated depreciation 6,750 6.750Step by Step Solution
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