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Use the information for 46 to 48. On January 1,2014, Garden Company purchased a new machialue was est $100,000. Depreciation was computed on the 46.
Use the information for 46 to 48. On January 1,2014, Garden Company purchased a new machialue was est $100,000. Depreciation was computed on the 46. What is the depreciation expense for 20 machine has an estimated useful life of nine years and the salvagesd. sum-of-the-years-digits method a. $560,000 4? b. $540,000 c. $550,000 d. $570,000 47. What is the depreciation expense for 20152 a. $540,000 b. $480,000 c. $490,000 d. $470,000 48. How much accumulated depreciation Garden Company should report on its 2015 balande sheet? a. $540,000 b. $480,000 c. $1,020,000 d. $470,000 49. Ramos Co. purchased machinery that was installed and ready for use on 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. For the year 2015, Ramos should record depreciation expense on this machinery of a. $24,000. b. $27.600 c. $30.000. d. $46,000. 50. In March, 2014, Mallory Mines Co. purchased a coal mine for $8,000,000. Removable coal is estimated at 1,500,000 tons. Mallory is required to restore the land at an estimated cost of $960,000, and the land should have a value of $840,000. The company incurred $2,000,000 of development costs preparing the mine for production. During 2014, 450,000 tons were removed and 300,000 tons were sold. The total amount of depletion that Mallory should record for 2014 is as 1,832,000 b. $2,024,000. c. $2,748,000 d. $3.036,000
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