Question
QUESTION 13 On September 1, 2011, a company purchased a weaving machine for $239,800. The machine has an estimated useful life of 8 years and
QUESTION 13
On September 1, 2011, a company purchased a weaving machine for $239,800. The machine has an estimated useful life of 8 years and an estimated residual value of $17,800. Additionally, it is estimated that the machine would produce 740,000 bolts of woven fabric over its useful life. The company ended up selling the machine in 2018 after 1 month of use.
The following budgeted and actual activity levels were provided to support your work:
Assuming the company uses the straight line depreciation method, select the answer below that shows the machine's net book value at 12/31/2013. If applicable, round your intermediate calculations to 3 decimals and your final answer to the nearest $1.
| A. | $156,550 | |
| B. | $138,750 | |
| C. | $160,000 | |
| D. | $175,050 | |
| E. | $157,250 |
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The Practice Of Modern Internal Auditing
Authors: Lawrence B Sawyer
2nd Edition
0894130927, 978-0894130922
