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Please help I am stuck on these last two questions. Thank you so much in advance! Crane Company purchased a new machine on October 1,2022
Please help I am stuck on these last two questions. Thank you so much in advance!
Crane Company purchased a new machine on October 1,2022 , at a cost of $90,080. The company estimated that the machine has a salvage value of $8,640. The machine is expected to be used for 71,400 working hours during its 8 -year life. Compute the depreciation expense under the straight-line method for 2022 and 2023, assuming a December 31 year-end. (Round answers to 0 decimal places, e.g. 5,275.) Current Attempt in Progress These are selected 2022 transactions for Bridgeport Corporation: Jan. 1 Purchased a copyright for $89,250. The copyright has a useful life of 5 years and a remaining legal life of 30 years. Mar. 1 Purchased a patent with an estimated useful life of 6 years and a legal life of 25 years for $121,320. Sept. 1 Purchased a small company and recorded goodwill of $154,100. Its useful life is indefinite. Indicate the amount of amortization expense on December 31, 2022, for Bridgeport Corporation. Amortization expense \$Step by Step Solution
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