Numerical Input 1.0 point possible (graded, results hidden) NASSA Group purchased an equipment on January...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Numerical Input 1.0 point possible (graded, results hidden) NASSA Group purchased an equipment on January 1, 2019 at a cost of $43000 with an estimated salvage value of $9000. The installation charge of the equipment was $2000. The equipment was expected to have an estimated useful life of 4 years. Determine the book value of the machine at the end of the year 2020 using the double declining balance method. Submit You have used 0 of 1 attempt Save Numerical Input 1.0 point possible (graded, results hidden) Bengal Group purchased a machine on January 1, 2019 at a cost of $40000 with an estimated salvage value of $4000. The machine was expected to have a useful life of 4 years and 30000 hours. The machine is expected to be used for 3500 hours in 2019, 7000 hours in 2020, 9500 hours in 2021, and 10,000 hours in 2022. Bengal Group uses the units of activity method to depreciate all machines. Determine the value of accumulated depreciation of this machine at the end of year 2020
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!
