Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Question 1 of 1 075 E View Policies Show Atiemp: History Current Attempt in Progress In recent years, Carla Vista Co has purchased three machines.

image text in transcribed

image text in transcribed

Question 1 of 1 075 E View Policies Show Atiemp: History Current Attempt in Progress In recent years, Carla Vista Co has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used Information concerning the machines is summarized in the table below. Machine Acquired Salvage Value Useful Life (in years) Depreciation Method Cost Jan 1.2020 $ 123.000 $43.000 Straight-line 2 July 1.2021 76.000 10.700 5 Declining-balance Nov. 1.2021 76.800 6.800 6 Units-of-activity For the declining-balance method. Carla Vista Co. 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. 840: 2022. 3.700:and 2023. 4.900. X Your answer's incorrect. Question 1 of 1 075 E Your answer is incorrect. Compute the amount of accumulated depreciation on each machine at December 31, 2023. MACHINE 1 MACHINE 2 MACHINE 3 Accumulated Depreciation at December 31 $ 80000 43560 $ 670424 e Textbook and Media X Your answer is incorrect If machine 2 was purchased on April 1 instead of July 1. what you d be the depreciation expense for this machine in 2021? In 2021 2022 Depreciation Expense US 42600 54830 e Textbook and Media

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental accounting principle

Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta

21st edition

978-0078025587

Students also viewed these Accounting questions

Question

What research background do you have?

Answered: 1 week ago