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Deffense [45]
4 years ago
5

g Vaughn Manufacturing purchased a new machine on October 1, 2022 at a cost of $124,800. The company estimated that the machine

has a salvage value of $9,600. The machine is expected to be used for 96,000 working hours during its 8-year life. Compute depreciation using the following methods in the year indicated. (a) Straight-line for 2022 and 2023, assuming a December 31 year-end. (Round answers to 0 decimal place, e.g. 1520.) 2022 2023 Straight-line method $enter a dollar amount $enter a dollar amount
Business
1 answer:
Wittaler [7]4 years ago
5 0

Answer:

Straight-line Depreciation Expense for 2022 and 2023 = $ 14,400, $ 14,400

Explanation:

Vaughn Manufacturing

Depreciation Straight Line Method= Cost - Salvage Value/ Useful Life

Depreciation Straight Line Method= $124,800-$9,600/8-years

Depreciation Straight Line Method=15,200/8= $ 14,400

The straight line depreciation expense does not change. It remains same for the next years as well.

Straight-line Depreciation Expense for 2022 and 2023 = $ 14,400, $ 14,400

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2 years ago
According to the basic double entry principle of accounting, we
Vlad1618 [11]

Answer:

D. Any of the above, depending on the transactions​

Explanation:

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If a firm sells 100$ of office supplies instead, the office supplies inventory is credited for this value, while the same amount of cash is debited for this same amount.

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3 years ago
Golden Eagle Company prepares monthly financial statements for its bank. The November 30 adjusted trial balance includes the fol
jolli1 [7]

Answer:

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Dec 31    Supplies expenses                           $2,300

               (1,650+3,800-3150)

                      Supplies                                                       $2,300

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                      Prepaid expenses                                        $1,650

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                       Salaries payable                                          $15,300

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7 0
3 years ago
In 2010, the imaginary nation of Bovina had a population of 5,000 and real GDP of 600,000. In 2011 it had a population of 5,200
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Answer:

Option (b) is correct.

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