Question
PLEASE SHOW ALL YOUR WORK! Duncan Company purchased a machine that cost $79,433, has an estimated residual value of $2,403, and has an estimated useful
PLEASE SHOW ALL YOUR WORK!
Duncan Company purchased a machine that cost $79,433, has an estimated residual value of $2,403, and has an estimated useful life of 8 years.
Using the double declining balance method, what is the depreciation expense for year 2?
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As part of a major renovation at the beginning of the year, Atiase Pharmaceuticals, Inc. sold shelving units (recorded as Equipment) that were 10 years old for $1,176 cash. The shelves originally cost $2,200 and had been depreciated on a straight-line basis over an estimated useful life of 10 years with an estimated residual value of $818.
When recording the sale, the change to stockholders equity will be $_____ (leave as a positive for increase, enter as for a decrease. Example: increase of 41,000, enter as 1,000, decrease of $1,00 enter as -1,000.
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Duncan Company purchased a machine that cost $79,433, has an estimated residual value of $2,403, and has an estimated useful life of 10 years.
Using the double declining balance methid, what is the book value at the end of year 1?
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Uber Inc purchased a car for $43,100. The car has a salvage value of $2,800 and is estimated to be in use for 150,000 miles. What is the accumulated depreciation at the end of Year 2 assuming mileage used in year 1 was 13,310, year 2 was 16,670, and year 3 was 18,040? $_______
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