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On January 1, 2014, Garden Company purchased a new machine for $2,800,000. The new machine has an estimated useful life of nine years and the
On January 1, 2014, Garden Company purchased a new machine for $2,800,000. The new machine has an estimated useful life of nine years and the salvage value was estimated to be $100,000. Depreciation was computed on the sum-of-the-years'-digits method. What is the depreciation expense for 2015? $540,000 $470,000 $490,000 $480,000 Question 40 (1.54 points) On January 1, 2014, Garden Company purchased a new machine for $2,800,000. The new machine has an estimated useful life of nine years and the salvage value was estimated to be $100,000. Depreciation was computed on the sum-of-the-years'-digits method. How much accumulated depreciation Garden Company should report on its 2015 balance sheet? $540,000 $1,020,000 $480,000 $470,000 Question 41 (1.54 points) Ramos Co. purchased machinery that was installed and ready for use on January 3, 2014, at a total cost of $115,000. Salvage value was estimated at $15,000. The machinery will be depreciated over five years using the double-declining balance method. For the year 2015, Ramos should record depreciation expense on this machinery of $46,000. $27,600. $24,000. $30,000
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