Fontaine Ltd. acquired a machine for $600,000 on January 1, 2022. The machine has a salvage value of $10,000 and a five-year useful life. Fontaine expects the machine to run for 15,000 machine hours. The machine was actually used for 4,800 hours in 2022 and 3,150 hours in 2023. What amount would Fontaine record as depreciation expense for the year ending December 31, 2023, if the double declining balance method were used?

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A: Depreciation is charged on the fixed asset by which the asset value decreases throughout its useful…

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A: “Since you have posted multiple questions, we will provide the solution only to the first question…

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Q: was the gain/ loss on the sale of the machine?

A: Solution   Prepared the Machinery Account for Calculate the Gain or Loss on sale of Machinery

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A: A revaluation is an upward adjustment of a country's official exchange rate compared to a…

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A: Definition: Units-of-activity method: The depreciation method which assumes that the consumption of…

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A:

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A:

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