Hall Corp. purchases a new machine on October 1, 2018. Year end is December 31....
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Accounting
Hall Corp. purchases a new machine on October 1, 2018. Year end is December 31.
Purchase price 100,000
Residual Value 5,000
Useful life 3 years
Estimated working hours during useful life 7,500
Machine usage in 2018 1,500
Machine usage in 2019 3,750
Machine usage in 2020 2,250
1. Calculate depreciation expense using the activity method for 2018
2. Prepare Hall Corp's journal entry to record 2018 depreciation on December 31, 2018
3. Calculate depreciation expense using the activity method for 2019
4. Prepare Hall Corp's journal entry to record 2019 depreciation on December 31, 2019
5. Calculate depreciation expense using the activity method for 2020
6. Prepare Hall's journal entry to record 2020 depreciation on December 31, 2020
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