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On October 1, 2019, Jay Company purchased a new machine for $112,500. The machine is estimated to have a $10,500 salvage value after its 10-year
On October 1, 2019, Jay Company purchased a new machine for $112,500. The machine is estimated to have a $10,500 salvage value after its 10-year useful life. The machine is expected to be used 20,000 working hours over its useful life. Instructions: Complete the following depreciation schedules for 2019 and 2020. All answers should have dollar signs and commas. For example, your answers could be in the following formats: $5,00 0 or $15,000 or $150,000. Straight-Line Method 2020 Year Depreciation Expense 2019 2020 Declining Balance Method (Assuming double the straight-line rate) Year Depreciation Expense 2019 Accumulated Depreciation Book Value Accumulated Depreciation Book Value
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