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On July 1, 20X1, Georgia Inc., which uses UOP depreciation, purchases a machine for $16,000;...

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Accounting

On July 1, 20X1, Georgia Inc., which uses UOP depreciation, purchases a machine for $16,000; the company estimates that the machine will have a useful life of 15,000 machine hours and a salvage value of $1,000. You are given the following usage data: 20X1 3,000 hours 20X2 2,200 hours 20X3 6,170 hours 20X4 5,300 hours Depreciation expense on the machine for 20X1 is: $1,600 $3,000 $1,500 $3,200 $16,000

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