Answered step by step
Verified Expert Solution
Question
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.
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
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