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A machine costing $212,800 with a four-year life and an estimated $16,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce 492,000 units of product during its life. It actually produces the following units: year 1, 121,600; year 2, 124,000; year 3, 120,100; and year 4, 136,300. The total number of units produced by the end of year 4 exceeds the original estimate-this difference was not predicted. (The machine must not be depreciated below its estimated salvage value.)
Required:Compute depreciation for each year (and total depreciation of all years combined) for the machine under each depreciation method. (Round your per unit depreciation to 2 decimal places.)
Straight Line Depreciation:Year 1: ?Year 2: ?Year 3: ?Year 4: ?
Units of productionDepreciable Units Depreciation per Unit Depreciation ExpenseYear 1 ? ? ?Year 2 ? ? ?Year 3 ? ? ?Year 4 ? ? ?
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On a trial balance, if the Debit and Credit column totals are equal, then:
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question 1prior to adjustment at the end of the year the balance in trucks is 225900 and the balance is accumulated
calculation of good will.total shareholders equity of little330000investment made by big80book value of
Grants are not necessarily recognized as revenue when they are awarded. Columbus City was awarded a state reimbursement grant of $150,000 to assist its adult literacy program. The following were significant events relating to the grant: a. The city, ..
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Explain whether each of the above expenditures should be recorded as an operating expense or an intangible asset. If you view the expenditure as an intangible asset, indicate the number of years over which the asset should be amortized, if any. Ex..
Evaluate the inventory section of two companies using basic comparative analysis and to interpret data to gain insight about the company's inventory management.
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