On the first day of the fiscal year, Alpha Corporation purchased a machine with a cost of s65,000. 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 straight-line method. What is the amount of depreciation for the first full year? Question. O s26,000 Os13,000 Os24,000 Os12,000
On the first day of the fiscal year, Alpha Corporation purchased a machine with a cost of s65,000. 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 straight-line method. What is the amount of depreciation for the first full year? Question. O s26,000 Os13,000 Os24,000 Os12,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 straight-line method. What is the
amount of depreciation for the first full year?
Question.
O s26,000
Os13,000
Os24,000
Os12,000
The dates of importance in connection with a cash dividend of $50,000 on a corporation's common stock are January 15, February 15, and March 15. Journalize the entries required on each date.
Ir no entry is required, select "No Entry Required" and leave the amount boxes blank or enter "O".
Jan. 15
Feb. 15
Mar. 15
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