A machine was purchased for $60,000. Installation expenses amounted to $2,000, wages of $4,000 were...
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Accounting
A machine was purchased for $60,000. Installation expenses amounted to $2,000, wages of $4,000 were paid on installation. A rebate of $10000 was received, The scrap value at the end of its useful life of 10 years is 6,000S. Repairs of 6,000S were done after 6 months from the date of purchase. Calculate depreciation using straight-line method:
a. $5,600
b. $5000
c. $6000
d. $4 800
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