Marigold Company acquires a piece of equipment on April 1 with a total cost of...
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Marigold Company acquires a piece of equipment on April 1 with a total cost of $23,500. The company estimates that the equipment has an estimated useful life of 3 years with a residual value of $940 and a total life of 5 years with no salvage value. Marigold Company has a December 31 year end and uses straight line depreciation. (a) Assume that Marigold Company is a publicly traded company. What is the depreciable value of the equipment? Depreciable value \$ Record the entry for the depreciation charge at year end. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.)
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Marigold Company acquires a piece of equipment on April 1 with a total cost of $23,500. The company estimates that the equipment has an estimated useful life of 3 years with a residual value of $940 and a total life of 5 years with no salvage value. Marigold Company has a December 31 year end and uses straight line depreciation. (a) Assume that Marigold Company is a publicly traded company. What is the depreciable value of the equipment? Depreciable value \$ Record the entry for the depreciation charge at year end. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.) 