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machine depreciation straightline answers and expl

machine depreciation (straight-line) answers and explanation

Machine Depreciation (Straight-Line) Step by step Solution with Explanation

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ABC purchased a machine on Jan 1, 2025 for $56606 with an estimated useful life of 14 years and no salvage value

Machine Depreciation (Straight-Line) Answers and Explanation

Straight-Line Depreciation Calculation

Given the following information:

  • Remaining useful life (revised) = 8 years

We can calculate the straight-line depreciation expense and carrying value for 2027.

Depreciation for the first 2 years = $4,043.29/year * 2 years = $8,086.58

  1. Carrying value on Jan 1, 2027 = Cost of machine - Depreciation over 2 years = $56,606 - $8,086.58 = $48,519.42

a. The carrying value of the machine on Jan 1, 2027, is $48,519.42. b. The depreciation expense for 2027 is $4,043.29.

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