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  3. 1. on january 2, apple company purchases factory m

1. On January 2, Apple Company purchases factory machine at a cash price of $60,000....

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Accounting

1. On January 2, Apple Company purchases factory machine at a cash price of $60,000. Related

expenditures are sales taxes $2,000, Insurance after the installation is $200, Installation and testing $1,000, Salvage value is $1,000. Useful life of the machine is 5 years.

c. The formula used in calculating the annual depreciation is:

a.

Annual Depreciation=(Salvage value-Cost)/Useful life

b.

Annual Depreciation=(cost-Useful life)/Salvage value

c.

Annual Depreciation=(cost-Salvage value)/Useful life

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