Archie Company purchased a framing machine for $57,000 on January 1, 2024. The machine is...
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Accounting
Archie Company purchased a framing machine for $57,000 on January 1, 2024. The machine is expected to have a four-year life, with a residual value of $4,000 at the end of four years.
Using the straight-line method, depreciation for 2025 and book value on December 31, 2025, would be:
Multiple Choice -
$14,250 and $28,500, respectively.
-
$13,250 and $26,500, respectively.
-
$14,250 and $24,500, respectively.
-
$13,250 and $30,500, respectively.
Archie Company purchased a framing machine for $57,000 on January 1, 2024. The machine is expected to have a four-year life, with a residual value of $4,000 at the end of four years.
Using the straight-line method, depreciation for 2025 and book value on December 31, 2025, would be:
Multiple Choice
$14,250 and $28,500, respectively.
$13,250 and $26,500, respectively.
$14,250 and $24,500, respectively.
$13,250 and $30,500, respectively.
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