Solution-Calculate the amount of net income for all

Calculate the amount of net income for all companies

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Reference no: EM131809810

Three different companies each purchased a machine on January 1, 2014, for $84,000. Each machine was expected to last five years or 200,000 hours. Salvage value was estimated to be $4,000. All three machines were operated for 54,000 hours in 2014, 56,000 hours in 2015, 40,000 hours in 2016, 46,000 hours in 2017, and 41,000 hours in 2018. Each of the three companies earned $40,000 of cash revenue during each of the five years. Company A uses straight-line depreciation, company B uses double-declining-balance depreciation, and company C uses units-of-production depreciation.

Calculate the amount of net income for all companies in 2014?

Reference no: EM131809810

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Calculate the amount of net income for all companies

Reference no: EM131809810

Reference no: EM131809810

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