Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer both questions in 10 min thanks Swifty Corporation purchased a depreciable asset for $174100. The estimated salvage value is $13300, and the estimated

please answer both questions in 10 min thanks image text in transcribed
image text in transcribed
Swifty Corporation purchased a depreciable asset for $174100. The estimated salvage value is $13300, and the estimated useful life is 10 years. The straight-line method will be used for depreciation. What is the depreciation base of this asset? $17410 $160800 $174100 $16080 Sheridan Company purchased a machine for $65400 on July 1, 2020. The company intends to depreciate it over 8 years using the double-declining balance method. Salvage value is $4900. Depreciation for 2021 to the closest dollar is $8175. $14306. $32700. $13100

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Creative And Innovative Auditing

Authors: Jeffrey Ridley

1st Edition

1472474627, 9781472474629

More Books

Students also viewed these Accounting questions

Question

Whats My Comfort with Change?

Answered: 1 week ago