Pls show solution: 3. On May 1, the company XYZ bought a machine that cost 252,000 in order to use for day-to-day operation. The machine is expected to have 4 years of useful life with a salvage value of 65,000. Due to the nature of the machine, the company decides to use the sum of years’ digits depreciation method to allocate the cost of the machine over its useful life. Calculate the sum of years’ digits depreciation for each year of the fixed asset above.
Pls show solution: 3. On May 1, the company XYZ bought a machine that cost 252,000 in order to use for day-to-day operation. The machine is expected to have 4 years of useful life with a salvage value of 65,000. Due to the nature of the machine, the company decides to use the sum of years’ digits depreciation method to allocate the cost of the machine over its useful life. Calculate the sum of years’ digits depreciation for each year of the fixed asset above.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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3. On May 1, the company XYZ bought a machine that cost 252,000 in order to use for day-to-day operation. The machine is expected to have 4 years of useful life with a salvage value of 65,000. Due to the nature of the machine, the company decides to use the sum of years’ digits depreciation method to allocate the cost of the machine over its useful life.
Calculate the sum of years’ digits depreciation for each year of the fixed asset above.
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