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Use the following December 31,2017 information to answer the next 3 questions: Cost Useful life Salvage value Purchase date Depreciation Methood Machine A $20,000 7
Use the following December 31,2017 information to answer the next 3 questions: Cost Useful life Salvage value Purchase date Depreciation Methood Machine A $20,000 7 years $ 1,100 Machine B $13,500 50,000 units $ 2,500 Machine C $10,800 5 years $ 2,500 Straight-line Units of Production Double-declining balan 1. What is the amount of accumulated depreciation for Machine A, on the December 31, 2017 balance sheet? A. $10,800 B. $10,125 D. E. $. &100. S.2100 2. Machine B produced 7,200 units during 2017. The book value associated with Machine B on December 31 2017 would be: A. $ 1,584 B. $ 792 C. 1,944 D. $11,916 E. $11,556 3. The journal entry to record depreciation of Machine C for 2017 would include: A. A credit to Accumulated Depreciation of $1,388 B. A debit to Depreciation Expense of S1,555 C. A debit to Accumulated Depreciation of S1,388 D. A credit to Depreciation Expense of $1,388 E. A debit to Accumulated Depreciation of $1,555
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