Sunland Company purchased factory equipment for $634000. The machine's estimated useful in hours is 173000 hours. The estimated salvage value is $59000 and the estimated useful life in years is 8. The machine was used for 13000 hours in the first year. The activity method will be used for depreciation. What is depreciation expense in the first year of this asset if it was purchased on September 1? (Round per hour calculation to 2 decimal places, e.g. 12.50 and final answer to 0 decimal places, e.g. 1,525.) $31658 $23958 $43160 $26417

Sunland Company purchased factory equipment for $634000. The machine's estimated useful in hours is 173000 hours. The estimated salvage value is $59000 and the estimated useful life in years is 8. The machine was used for 13000 hours in the first year. The activity method will be used for depreciation. What is depreciation expense in the first year of this asset if it was purchased on September 1? (Round per hour calculation to 2 decimal places, e.g. 12.50 and final answer to 0 decimal places, e.g. 1,525.) $31658 $23958 $43160 $26417

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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