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The Fluffy Laundromat purchased new washing machines and dryers for $68,000. Shipping charges were $490 and installation amounted to $600. The machines are expected to
The Fluffy Laundromat purchased new washing machines and dryers for $68,000. Shipping charges were $490 and installation amounted to $600. The machines are expected to last for 4 years and have a residual value of $5000. If Fluffy elects to use the straight-line method of depreciation, prepare a depreciation schedule for these machines.
End of Year | Annual Depreciation | Accumulated Depreciation | Book Value |
1 | $Correct | $ | $ |
2 | $ | $ | $ |
3 | $ | $ | $ |
4 | $ | $ | $5000 |
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