Nn.57. Subject  :- Account  Company purchased a machine for $9,800 on January​ 1, 2019. The machine has been depreciated using the​ straight-line method assuming it has a five​-year life with a $1,400 residual value. Taylor sold the machine on January​ 1, 2021​, for $7,600. What is the book value of the machine on December​ 31, 2020​?   A.$ 2 comma 100 $2,100   B.$ 6 comma 440 $6,440   C.$ 8 comma 400 $8,400   D.$ 9 comma 800 $9,80

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Nn.57.

Subject  :- Account 

Company purchased a machine for

$9,800

on January​ 1,

2019.

The machine has been depreciated using the​ straight-line method assuming it has

a five​-year

life with a

$1,400

residual value.

Taylor

sold the machine on January​ 1,

2021​,

for

$7,600.

What is the book value of the machine on December​ 31,

2020​?

 

A.$ 2 comma 100

$2,100

 

B.$ 6 comma 440

$6,440

 

C.$ 8 comma 400

$8,400

 

D.$ 9 comma 800

$9,800 

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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation
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