Question 1 Concord Company purchased machinery on January 1, 2025, for $84,000. The machinery is...
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Accounting
Question 1
Concord Company purchased machinery on January 1, 2025, for $84,000. The machinery is estimated to have a salvage value of $8,400 after a useful life of 8 years.
(a)
Compute 2025 depreciation expense using the sum-of-the-years'-digits method.
Depreciation expense
$enter the depreciation expense in dollars
(b)
Compute 2025 depreciation expense using the sum-of-the-years'-digits method, assuming the machinery was purchased on April 1, 2025. (Do not round intermediate calculations. Round final answer to 0 decimal places, e.g. 5,125.)
Depreciation expense
$enter the depreciation expense in dollars rounded to 0 decimal places
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