On January 3, 2014, Barrow Company installed a computerized machine in its factory at a...
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Accounting
On January 3, 2014, Barrow Company installed a computerized machine in its factory at a cost of $53,000. The machine's useful life was estimated at four years with a $3,000 salvage value. Barrow's year-end is December 31. Required: (1) Calculate annual Depreciation under the straight-line and double-declining-balance methods (2) Prepare journal entries (3) Show how Depreciation appear on the balance sheet (Round to the nearest dollar.)
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