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What the accumulated depreciation for the machine

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Question - On July 1, 2022, Janik Corp. acquired a machine at a cost of $600,000. It was to be depreciated on the sum-of-the-years-digits method over a five-year period with no residual value. Because of a bookkeeping error, no depreciation was recognized in Janik's 2022 and 2023 financial statements. The oversight was discovered during the preparation of Janik's 2024 financial statements. What the Accumulated Depreciation for the machine on the 12/31/24 balance sheet?

Reference no: EM132945912

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