On January 1, Hawailan Specialty Foods purchased equipment for $45,000. Residual value at the end...
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On January 1, Hawailan Specialty Foods purchased equipment for $45,000. Residual value at the end of an estimated four-year service life is expected to be $3,000 The company expects the machine to operate for a totat of 35,000 hours The machine operated for 3,250 hours in the first year and 3,550 hours in the second year Record depreciation expense for the first two years using the activity-based method (if no entry is required for a porticular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the depreciation expense for the second year using the activity-based method. Note tenter debits before cresits. Record the depreciation expense for the first year using the activity-based method. Note: Enter debits before credits
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