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Please Highlight the answer Zinn Company purchased a machine on January 2 that cost $32,000. Salvage or residual value is $2,000, and the estimated useful
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Zinn Company purchased a machine on January 2 that cost $32,000. Salvage or residual value is $2,000, and the estimated useful life is 5 years or 200,000 output units. 45,000 output units were made the first year.
17) Depreciation expense for the first year using straight line is
A) $6,000,000
B) $60
C) $6,000
D) $600,000
18) Depreciation for the first year using double declining balance is
A) $12,800,000
B) $12.80
C) $12,800
D) $128,000
19) Depreciation for the first year using units of output (production) is
A) $6,750
B) $67,600
C) $67.50
D) $6,750,000
20) Over the assets useful life the total amount of depreciation calculated by all depreciation methods is
A) The same amount in total
B) Different according to the color the asset is painted
C) Different according to whether the month ends in a y
D) Different if there are sunspots
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