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What should the depreciation expense be at September

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Question 1 - Cola Company purchased a bottling machine on October 1, 2018 for $250,000. The estimated useful life is 25 years and they are using straight-line depreciation. On October 1, 2019, they spent $46,000 on the machine to double its capacity and $5,000 on routine cleaning. The company's year-end is September 30. What should the depreciation expense be at September 30, 2020?

a. $10,000

b. $30,000

c. $12,200

d. $11,917

Question 2 - Ruby's & Rings Inc. offers a two-year assurance warranty against failure of its products. The estimated liability is 4% of sales in the year of sale and 6% in the second year. Sales for 2020 and 2021 were: $2,500,000 and $2,800,000, respectively. The company incurred no warranty costs in 2020 but in 2021 they spent $175,000 on repairs related to the warranties issued 2020 and 2021. The warranty provision at the 2020 year end was

a. $0.

b. $100,000.

c. $150,000.

d. $250,000.

Reference no: EM132527315

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