Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please write just the answers. if you show all your work, answers will b cur off on mobile devices. thanks! Machine Acquired Salvage Value Useful
please write just the answers. if you show all your work, answers will b cur off on mobile devices. thanks!
Machine Acquired Salvage Value Useful Life (in years) Depreciation Method Cost 1 Jan. 1.2020 $128.500 $18,500 10 2 July 1, 2021 81,500 11.300 5 Straight-line Declining balance Units-of-activity 3 Nov. 1.2021 76,800 6,800 7 For the declining balance method. Cullumber Company uses the double-declining rate. For the units-of-activity method, total machine hours are expected to be 35.000. Actual hours of use in the first 3 years were: 2021.6702022, 3,600; and 2023,4,900 (a) Your answer is partially correct. Compute the amount of accumulated depreciation on each machine at December 31, 2023. MACHINE 1 MACHINE 2 MACHINE 3 Accumulated Depreciation at December 31 $ 44000 $ 76800 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started