Iridium Co. purchased a machine on the first day of a year. The following data is available for the machine: The following information is available for Zircon Inc. $35.000 1.800 Purchase price of equipment Freight costs Installation con Damage during installing 1,100 Initial 560,000 Expected useful life 10 years Estimated residual value 52.000 Determine the depreciation for the second year using the double-declining-balance method 3. $9,600 b. $12.000 $5.500 d. $5,800 The equipment purchased would be recorded at a $27.900 b. 528,500 $26,800 Od 527,300 An expense account that is increased for a portion of the cost of a natural resource asset removed from its source is calle operating expense b. depletion expense The legal fees incurred in purchasing a natural resource are 3. Subtracted from the natural resource's cost b. reported as a current asset on a balance sheet c. added to the natural resource's cost d. reported as extraordinary expenses on an income statement Which of the following is an item that is disclosed on a balance sheet? a. The asset turnover b. The return on debt c. Free cash flow d. Accumulated depletion Routine maintenance and repair costs are recorded as an) - a capital expenditure b. public expenditure c revenue expenditure d. investing expenditure