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The Fluffy Laundromat purchased new washing machines and dryers for $57,000. Freight charges were $470, and installation amounted to $500. The machines are expected to

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The Fluffy Laundromat purchased new washing machines and dryers for $57,000. Freight charges were $470, and installation amounted to $500. The machines are expected to last 5 years and have a residual value of $2,000. If Fluffy elects to use the straight line method of depreciation, prepare a depreciation schedule for these machines. a. What is the amount of the annual depreciation? b. What is the book value of the property at the end of the twentieth year of use? Years = Accumulated depreciation = Book value = c. If at the start of the twenty-first year you revise your estimate so that the remaining useful life is 15 years and the residual value is $120,000, what should be the depreciation expense for each of the remaining 15 years? Sequoia Timber Company purchased land containing an estimated 6,500,000 board feet of lumber for $3,700,000. The company invested another $300,000 to construct access roads and a company depot. The residual value of the property and equipment is estimated to be $880,000. a. What is the average depletion cost per board foot of lumber? The Fluffy Laundromat purchased new washing machines and dryers for $57,000. Freight charges were $470, and installation amounted to $500. The machines are expected to last 5 years and have a residual value of $2,000. If Fluffy elects to use the straight line method of depreciation, prepare a depreciation schedule for these machines. a. What is the amount of the annual depreciation? b. What is the book value of the property at the end of the twentieth year of use? Years = Accumulated depreciation = Book value = c. If at the start of the twenty-first year you revise your estimate so that the remaining useful life is 15 years and the residual value is $120,000, what should be the depreciation expense for each of the remaining 15 years? Sequoia Timber Company purchased land containing an estimated 6,500,000 board feet of lumber for $3,700,000. The company invested another $300,000 to construct access roads and a company depot. The residual value of the property and equipment is estimated to be $880,000. a. What is the average depletion cost per board foot of lumber

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