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Machine (a) (b) #1 #2 Date Acquired Jan. 1, 2014 July 1, 2023 Book value Accumulated depreciation $992,000 Your answer is partially correct. Cost $ 148,800 $ Useful Life (in years) 20 Calculate the accumulated depreciation and book value of each asset on December 31, 2024. Machine 1 5 520800 $ Salvage Value $ $49,600 6,200 Machine 2 42780 106020

Machine (a) (b) #1 #2 Date Acquired Jan. 1, 2014 July 1, 2023 Book value Accumulated depreciation $992,000 Your answer is partially correct. Cost $ 148,800 $ Useful Life (in years) 20 Calculate the accumulated depreciation and book value of each asset on December 31, 2024. Machine 1 5 520800 $ Salvage Value $ $49,600 6,200 Machine 2 42780 106020

FINANCIAL ACCOUNTING
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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Blossom Machines reported the following information about two of its machines as of Machine Date Acquired (a) (b) #1 #2 Jan. 1, 2014 July 1, 2023 Book value Your answer is partially correct. Accumulated depreciation $992,000 148,800 Cost $ $ Useful Life (in years) Calculate the accumulated depreciation and book value of each asset on December 31, 2024. Machine 1 20 520800 5 LA $ tA Salvage Value $ $49,600 6,200 Machine 2 42780 106020
Transcribed Image Text:Blossom Machines reported the following information about two of its machines as of Machine Date Acquired (a) (b) #1 #2 Jan. 1, 2014 July 1, 2023 Book value Your answer is partially correct. Accumulated depreciation $992,000 148,800 Cost $ $ Useful Life (in years) Calculate the accumulated depreciation and book value of each asset on December 31, 2024. Machine 1 20 520800 5 LA $ tA Salvage Value $ $49,600 6,200 Machine 2 42780 106020
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