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On the first day of the fiscal year, Alpha Corporation purchased a machine with a cost of $65,000. The machine, which will be installed in Alpha Corporation's operating plant has an estimated salvage value of $5,000 and an estimated life of 5 years or 15,000 hours. During the first year, the machine was operated for 5,000 hours. During the second year the machine was operated for 7,500 hours. The machine is to be depreciated by the units-of-production method. What is the amount of depreciation for the first full year? Question. Os21,667 OSa,000 Os20,000 Os12,000 On the first day of the fiscal vear. Alpha Corporation purchased a machine with a cost of $65.000. The machine, which will be installed in Alpha Corporation's operating plant has an estimated salvage value of $5.000 and an estimated life of 5 years or 15,000 hours. During the first year, the machine was operated for 5,000 hours. During the second year the machine was operated for 7,500 hours. The machine is to be depreciated by the double-declining balance method. What s the amount of depreciation for the first full year? Question. O ss2,000 Os26,000

On the first day of the fiscal year, Alpha Corporation purchased a machine with a cost of $65,000. The machine, which will be installed in Alpha Corporation's operating plant has an estimated salvage value of $5,000 and an estimated life of 5 years or 15,000 hours. During the first year, the machine was operated for 5,000 hours. During the second year the machine was operated for 7,500 hours. The machine is to be depreciated by the units-of-production method. What is the amount of depreciation for the first full year? Question. Os21,667 OSa,000 Os20,000 Os12,000 On the first day of the fiscal vear. Alpha Corporation purchased a machine with a cost of $65.000. The machine, which will be installed in Alpha Corporation's operating plant has an estimated salvage value of $5.000 and an estimated life of 5 years or 15,000 hours. During the first year, the machine was operated for 5,000 hours. During the second year the machine was operated for 7,500 hours. The machine is to be depreciated by the double-declining balance method. What s the amount of depreciation for the first full year? Question. O ss2,000 Os26,000

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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On the first day of the fiscal year, Alpha Corporation purchased a machine with a cost of 65,000. The machine, which will be installed in Alpha Corporation's operating plant has an estimated salvage value of $5,000 and an estimated life of 5 years or 15,000 hours. During the first year, the machine was operated for 5,000 hours. During the second year the machine was operated for 7,500 hours. The machine is to be depreciated by the units-of-production method. What is the amount of depreciation for the first full year? Question. O s21,667 O S,000 O s20,000 Os12,000 On the first day of the fiscal year, Alpha Corporation purchased a machine with a cost of $65,000. The machine, which wilI be installed in Alpha Corporation's operating plant has an estimated salvage value of $5,000 and an estimated life of 5 years or 15,000 hours. During the first year, the machine was operated for 5,000 hours. During the second year the machine was operated for 7,500 hours. The machine is to be depreciated by the double-declining balance method. What is the amount of depreciation for the first full year? Question. O ss2,000 O SI8,000 O s26,000 O s24,000
Transcribed Image Text:On the first day of the fiscal year, Alpha Corporation purchased a machine with a cost of 65,000. The machine, which will be installed in Alpha Corporation's operating plant has an estimated salvage value of $5,000 and an estimated life of 5 years or 15,000 hours. During the first year, the machine was operated for 5,000 hours. During the second year the machine was operated for 7,500 hours. The machine is to be depreciated by the units-of-production method. What is the amount of depreciation for the first full year? Question. O s21,667 O S,000 O s20,000 Os12,000 On the first day of the fiscal year, Alpha Corporation purchased a machine with a cost of $65,000. The machine, which wilI be installed in Alpha Corporation's operating plant has an estimated salvage value of $5,000 and an estimated life of 5 years or 15,000 hours. During the first year, the machine was operated for 5,000 hours. During the second year the machine was operated for 7,500 hours. The machine is to be depreciated by the double-declining balance method. What is the amount of depreciation for the first full year? Question. O ss2,000 O SI8,000 O s26,000 O s24,000
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