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On July 1, 20X1, your company, which uses the straight-line method, purchases 3 machines, as follows: Cost Salvage Value Useful Life Machine No. 1 $80,000
On July 1, 20X1, your company, which uses the straight-line method, purchases 3 machines, as follows:
Cost Salvage Value Useful Life
Machine No. 1 $80,000 $14,000 12 years
Machine No. 2 55,000 10,000 8 years
Machine No. 3 27,000 3,000 5 years
Assets purchased between the 1st and 15th are depreciated for the entire month; assets purchased after the 15th as though they were acquired the following month. What is total 20X1 depreciation for the 3 machines?
Question 8 options:
A | $15,925 |
B | $9,471 |
C | $7,963 |
D | $18,942 |
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