On January 2, 2019, Payne Company acquired a machine for $250,000 to be used in its manufacturing operations. The machine has an estimated useful life of 10 years, an estimated salvage value of $30,000, and was estimated to be used for a total of 50,000 hours. In 2028, the machine was used for 6,000 hours. What is the book value of the machine as of December 31, 2028 if Payne Company use the units of activity depreciation method? Round your interim calculations and final answer to 2 decimal places. Do not include any dollar signs, percentage % signs, commas, and/or spaces in your answer. Your answer should only include numbers. For negative numbers, use a negative sign before the number e.g. -1021.57 Do not use brackets for negative numbers and do not leave a space between the negative sign and the number. Answer: x (30000)
On January 2, 2019, Payne Company acquired a machine for $250,000 to be used in its manufacturing operations. The machine has an estimated useful life of 10 years, an estimated salvage value of $30,000, and was estimated to be used for a total of 50,000 hours. In 2028, the machine was used for 6,000 hours. What is the book value of the machine as of December 31, 2028 if Payne Company use the units of activity depreciation method? Round your interim calculations and final answer to 2 decimal places. Do not include any dollar signs, percentage % signs, commas, and/or spaces in your answer. Your answer should only include numbers. For negative numbers, use a negative sign before the number e.g. -1021.57 Do not use brackets for negative numbers and do not leave a space between the negative sign and the number. Answer: x (30000)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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10.
Transcribed Image Text:On January 2, 2019, Payne Company acquired a machine for $250,000 to be used in its manufacturing operations. The machine has an
estimated useful life of 10 years, an estimated salvage value of $30,000, and was estimated to be used for a total of 50,000 hours. In
2028, the machine was used for 6,000 hours. What is the book value of the machine as of December 31, 2028 if Payne Company use
the units of activity depreciation method?
Round your interim calculations and final answer to 2 decimal places.
Do not include any dollar signs, percentage % signs, commas, and/or spaces in your answer.
Your answer should only include numbers.
For negative numbers, use a negative sign before the number e.g. -1021.57
Do not use brackets for negative numbers and do not leave a space between the negative sign and the number.
Answer:
x (30000)
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