Calculate accumulated depreciation for each machine at, Ask an Expert

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Q1) Capital Company purchased 3 machines in past year. Information regarding these items is given below:

Machine	Acquired	Cost	Salvage Value	Useful life	Depreciation Method
1	Jan 1, 2006	$120,000	$20,000	5 years	Straight-line
2	Jan 1, 2006	80,000	10,000	5 years	Double-declining
3	Sept 1, 2006	530,000	5,000	4 years	Units of production

Extra information: Total machine hours expected for machine 3 will be 12,000 hours. Actual machine hours used in first three years were: 200 hours in 2006, 2,250 hours in 2007, and 2,500 hours in 2008

problem:

find out accumulated depreciation for each machine at December 31, 2008.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M919993

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