On January 1, 2019, Portly Corporation acquired equipment for $136,000. The estimated life of the...
90.2K
Verified Solution
Link Copied!
Question
Accounting
On January 1, 2019, Portly Corporation acquired equipment for $136,000. The estimated life of the equipment is 10 years or 45,000 hours. The estimated residual value is $10,000. What is the balance in Accumulated Depreciation on December 31, 2019, if Portly Corporation uses the units of production method of depreciation and used the machine for 2,600 hours?
Select one:
a.
$12,600
b.
$7,280
c.
$7,858
d.
$27,200
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: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.