Copy equipment was acquired at the beginning of the year at a cost of $37,120 that has an estimated residual value of $3,400 and an estimated useful life of 5 years. It is estimated that the machine will output an estimated 1,124,000 copies. This year, 295,000 copies were made. a. Determine the depreciable cost. %$4 b. Determine the depreciation rate. Round your answer to two decimal places. %$4 per copy c. Determine the units-of-output depreciation for the year.

Copy equipment was acquired at the beginning of the year at a cost of $37,120 that has an estimated residual value of $3,400 and an estimated useful life of 5 years. It is estimated that the machine will output an estimated 1,124,000 copies. This year, 295,000 copies were made. a. Determine the depreciable cost. %$4 b. Determine the depreciation rate. Round your answer to two decimal places. %$4 per copy c. Determine the units-of-output depreciation for the year.

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Description: Copy equipment was acquired at the beginning of the year at a cost of $37,120 that has an estimatedresidual value of $3,400 and an estimated useful life of 5 years. It is estimated that the machine willoutput an estimated 1,124,000 copies. This year

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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