Ramos Co. purchased machinery that was installed and put into service January 3, 2014 at a total
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Question:
Ramos Co. purchased machinery that was installed and put into service January 3, 2014 at a total cost of $115,000. Salvage value was estimated at $15,000. The machinery will be depreciated over five years using the double-declining balance method.
REQUIRED: Determine the following:
Unless all supporting schedules and computations for every answer are presented in good traceable order, there will be NO credit
Unless all supporting schedules and computations for every answer are presented in good traceable order, there will be NO credit
(a)$_______________________ The book value of the machine at December 31, 2016, before depreciation.
(b)$_______________________The depreciation expense for the year 2016.
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