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Take me to the text On July 1, 2012, Bob's Juice Factory purchased a new bottle-sealing machine for $159,600. The machine had an estimated useful
Take me to the text On July 1, 2012, Bob's Juice Factory purchased a new bottle-sealing machine for $159,600. The machine had an estimated useful life of 10 years and is expected to have no residual value. Assume that the company has adopted a partial-year depreciation policy, where depreciation is taken on a monthly basis. The company uses straight line depreciation. The fiscal year-end for Bob's Juice Factory is December 31. On November 1, 2020 Bob's Juice Factory traded this machine for a new machine. The price tag on the new machinery is $169,600. In return for the old machine that Bob's Juice Factory is giving up, the supplier of the new machine agrees to take $69,600 off the price of the new machine even though the fair value of the old machine on the day of the trade is only $28,600. Required a) Prepare the depreciation table over the life of the old machine. Do not enter dollar signs or commas in the input boxes. Round all dollar figure answers to the nearest whole number. Year Cost of Long- Term Asset Depreciation Expense Accumulated Depreciation 2012 $159,600 2013 $159,600 2014 $159,600 $ 2015 $159,600 $ 2016 $159,600 $ 2017 $159,600 $ $ 2018 $159,600 $ $ 2019 $159,600 2020 $159,600
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