1 answer

Question 3 --/1 View Policies Current Attempt in Progress Blossom Company purchased a new machine on...

Question:

Question 3 --/1 View Policies Current Attempt in Progress Blossom Company purchased a new machine on October 1, 2022, at a co

Question 3 --/1 View Policies Current Attempt in Progress Blossom Company purchased a new machine on October 1, 2022, at a cost of $66,000. The company estimated that the machine has a salvage value of $5,700. The machine is expected to be used for 46,000 working hours during its 6-year life. Compute the depreciation expense under the straight-line method for 2022 and 2023, assuming a December 31 year-end. (Round answers to 2 decimal places, e.g. 5,275.25.) 2022 2023 The depreciation expense under the straight-line method $

Answers

Depreciation = (Cost - Salvage value)/Useful life

2022 :-

= (66,000-5,700)/6 * 3/12

= 2,512.50

2023 :-

= (66,000-5,700)/6

= 10,050

.

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