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Please, only answer if you have the CORRECT ANSWER to the question. if your answer is wrong or irrelevant, I will REPORT it to Chegg
Please, only answer if you have the CORRECT ANSWER to the question. if your answer is wrong or irrelevant, I will REPORT it to Chegg and leave a thumb down. So please, check your answer before posting it!
Quality Producers acquired factory equipment on 1 January 20X5, costing $162,000. Component parts are not significant and need not be recognized and depreciated separately. In view of pending technological developments, it is estimated that the machine will have a resale value upon disposal in four years of $52,000 and that disposal costs will be $4,000. The company has a fiscal year-end that ends on 31 December. Data relating to the equipment follow: Fetimatert centire lifa: Required: 1. Prepare a depreciation schedule for the asset, using: a. Straight-line depreciation. (Enter your answers as positive values. Round your answers to the nearest dollar.) b. Declining-balance depreciation, using a 26% rate. (Enter your answers as positive values. Round your answers to the nearest dollar.) c. Service-hours depreciation. (Round your depreciation expense per hour to 2 decimal places. Enter your answers as positive values. Round your answers to the nearest dollar.) 2. Express straight-line depreciation as a percentage of original cost. (Round your percentage answer to nearest whole number (i.e. 0.12 should be considered as 12% ) If you have the correct answer, I'll leave a thumb up! Thank you!
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