Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. company purchased machinery on january 1, 2019 for

company purchased machinery on january 1, 2019 for 60,000 cash. it has an estimated useful...

60.1K

Verified Solution

Question

Accounting

company purchased machinery on january 1, 2019 for 60,000 cash. it has an estimated useful life of 3 years with no residual value and depreciation is calculated using the straight line method During 2021 worldwide determined that the estimated useful life should be revised to a total of 5 years and the residual value changed to 10,000. prepare the entry to record revised depreciation for the tear ended December 31

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

East Side Corporation is expected to pay the following dividends over the next four years: $16,...

Finance
Q

Reflection on the Five Practices of Exemplary Leadership Apply each of the five practices to an...

Operations Management
Q

How does the linear factorization of f(x), that is, f(x)=an (x?c1)(x?c2)?(x?cn), show that a polynomial equation of degree n has nroots? Why must...

Advance Math
Q

5 Use a relative humidity chart to fill in the blanks An example has been...

Biology
Q

r at a Let I be the moment of inertia of a uniform square plate...

Physics
Q

Problem 6 Two satellites are in circular orbits around a planet that has radius 9...

Physics
Q

Rules for Rotation on a Coordinate Plane 90 rotation counterclockwise 180 rotation 270 rotation counterclockwise...

Geometry
Q

Use the following to answer question 15 Figure AD AS Aggregate price level LRAS Y...

Basic Math
Q

3. Discuss the business planning process in detail including 5 types of planning and the...

Accounting
Q

Exercise 6-4 Calculate inventory amounts when costs are rising (L06-3) The following information applies to...

Accounting
Q

Wimpy Inc. produces and sells a single product. The selling price of the product is...

Accounting
Q

QS 8-9 (Algo) Revenue and capital expenditures LO C3 a. Paid $70,000 cash to replace...

Accounting