Question
Wildhorse Inc., reported the following information about two of its machines as at December 31, 2019. Machine #1: Date Acquired: Jan. 1, 2011 Cost: $809,200.00
Wildhorse Inc., reported the following information about two of its machines as at December 31, 2019.
Machine #1:
Date Acquired: Jan. 1, 2011
Cost: $809,200.00
Residual Value: $37,340.00
Useful Life (years): 20
Machine #2:
Date Acquired: Jan. 1, 2019
Cost: $119,780.00
Useful Life (years): 5
Residual Value: $4,830.00
Calculate the accumulated depreciation and carrying amount of each asset on December 31, 2020.
| Machine 1 | Machine 2 | ||||
|---|---|---|---|---|---|
| Accumulated depreciation | enter a dollar amount | enter a dollar amount | |||
| Carrying amount | enter a dollar amount | enter a dollar amount |
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Internal Auditing Assurance & Advisory Services
Authors: Urton L. Anderson, Michael J. Head, Sridhar Ramamoorti, Cris Riddle, Mark Salamasick, Paul J. Sobel
4th Edition
0894139878, 978-0894139871
