Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. vaughn manufacturing purchased machinery on januar

Vaughn Manufacturing purchased machinery on January 2, 2015, for $ 880000. The straight-line method is...

70.2K

Verified Solution

Question

Accounting

Vaughn Manufacturing purchased machinery on January 2, 2015, for $ 880000. The straight-line method is used and useful life is estimated to be 10 years, with a $ 73000 salvage value. At the beginning of 2021 Vaughn spent $ 188000 to overhaul the machinery. After the overhaul, Vaughn estimated that the useful life would be extended 4 years (14 years total), and the salvage value would be $ 35000.

The depreciation expense for 2021 should be

A$ 68600.

B$ 63850.

C$ 72975.

D:$ 80700.

Solve urgently thanks

Answer & Explanation Solved by verified expert
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!
Become a Member

Other questions asked by students

Finance
1.2K views

Herman Co. is considering a four-year project that will require an initial investment of $7,000. The...

Chemistry
1.2K views

how can i Calculate those ?? 1)Mass of Cu wire reacted 2)Mass of Ag produced 3)Mass of AgNO3...

Medical Sciences
1.2K views

Why does untreated diabetes cause glucose to be present in collecting duct fluid? one-two sentence answers, please,...

Psychology
1.2K views

Title IX and Girl’s Sports At America’s birth, the Constitution’s framers granted women almost no civil rights....

Physics
1.2K views

30 Force acting on a particle moving along x axis is as shown in figure...

Calculus
1.2K views

IN dw as a function of t both by using the Chain Rule and by...

Calculus
1.2K views

Evaluate the limit below 2 h 4 h lim h 0 If we define F...

Accounting
1.2K views

Han Products manufactures 30,000 units of part S-6 each year for use on its production...

Accounting
1.2K views

Japan Company produces lamps that require 3 standard hours per unit at a standard hourty...

Accounting
1.2K views

1.2. ... 4. True or false only: 1. T/F The proprietors promise to pay to...

Accounting
1.2K views

On June 8, Alton co. Issued an $81,780, 7%, 120 day note payable to seller...

Accounting
1.2K views

The accounts receivable balance for Renue Spa at December 31, Year 1, was $85,000. Also...