9.5 Detirmine Straight line depreciation for partial period Gotham Company purchased a new machine on...
70.2K
Verified Solution
Link Copied!
Question
Accounting
9.5 Detirmine Straight line depreciation for partial period Gotham Company purchased a new machine on October 1, 2017, at a cost of $90,000. The company estimated that the machine has a salvage value of $8,000. The machine is expected to be used for 70,000 working hours during its 8-year life. Instructions Compute the depreciation expense under the straight-line method for 2017 and 2018, assuming a December 31 year-end. NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?" Value Value Cost Salvage value Depreciable cost Useful life Annual depreciation 2017 Depreciation 2018 Depreciation Value Value X 3/12- Value After you have completed E9-5, consider the additional question. Assume that the cost of the new machine changed to $85,000. Determine the impact of this change on 2017 and 2018 depreciation
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: Zin AI - Your personal assistant for all your inquiries!
