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please solve it correctly Ayayai Corp purchased a machine on July 1, 2020. for $30,000. Ayayai paid $200 in title fees and a legal fee
please solve it correctly
Ayayai Corp purchased a machine on July 1, 2020. for $30,000. Ayayai paid $200 in title fees and a legal fee of $100 related to the machine. In addition, Ayayai paid $500 in shipping charges for delivery, and $400 to a local contractor to build and wire a platform for the machine on the plant floor. The machine has an estimated useful life of 10 years, a total expected life of 12 years, a residual value of $6,100, and no salvage value. Ayayai uses straight-line depreciation. Calculate the 2020 depreciation expense if Ayayai prepares financial statements in accordance with IFRS. Depreciation expense $ e Textbook and Media Calculate the 2020 depreciation expense if Ayayai prepares financial statements in accordance with ASPE. Depreciation expense $Step by Step Solution
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