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On January 1, 2014 the Yellowstone Company purchased a snowcat machine to take tourists on wildlife spotting tours in the National Park. (Guess where I

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On January 1, 2014 the Yellowstone Company purchased a snowcat machine to take tourists on wildlife spotting tours in the National Park. (Guess where I went last Christmas!) The machine cost $200,000 and it cost $6,000 to paint the machine with the Company's logo. The expected life of the machine is 5 years, or 150,000 miles and expected salvage value is $21,000. Prepare the adjusting entry for depreciation expense for 2015 (the second year) using each of the following methods: 1. Straight-Line 2. Units of production, the snowcat was driven 40,000 miles in 2015 3. Double-declining balance 4. The snowcat was sold for $100,000 on 6/30/2017. Straight line depreciation was used, and depreciation was last entered on 12/31/2016. Make any entries necessary at the time of the sale

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