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please anseer all parts and questions asked. they are each connected>> what is the deprectation expense? What is the accumincated depreciation? 3. Compute the depreciation
please anseer all parts and questions asked. they are each connected>>
what is the deprectation expense?
What is the accumincated depreciation?
3. Compute the depreciation expense to be reported for Year 1. Required information [The following information applies to the questions displayed below.] During Year 1, Ashkar Company ordered a machine on January 1 at an invoice price of $20,000. On the date of delivery, January 2 , the company paid $6,000 on the machine, with the balance on credit at 11 percent interest due in six months. On January 3 , it paid $1,400 for freight on the machine. On January 5 , Ashkar paid installation costs relating to the machine amounting to $2,100. On July 1 , the company paid the balance due on the machine plus the interest. On December 31 (the end of the accounting period), Ashkar recorded depreciation on the machine using the straight-line method with an estimated useful life of 10 years and an estimated residual value of $4,100. 2. Compute the acquisition cost of the machine
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