3.A machine with a cost of? S20,000, a salvage value of? $8,000 and expected life of 15 years was purchased on September 1. For a calendar year?company, the journal entry to record depreciation expense for the first year would be? to: А. debit Depreciation? Expense, S200; credit Accumulated? Depreciation, $200. В. debit Depreciation? Expense, S67; credit Accumulated? Depreciation, $67. C. debit Depreciation? Expense, S267; credit Accumulated? Depreciation, $267. D. debit Depreciation? Expense, $333; credit Accumulated? Depreciation, $333.
3.A machine with a cost of? S20,000, a salvage value of? $8,000 and expected life of 15 years was purchased on September 1. For a calendar year?company, the journal entry to record depreciation expense for the first year would be? to: А. debit Depreciation? Expense, S200; credit Accumulated? Depreciation, $200. В. debit Depreciation? Expense, S67; credit Accumulated? Depreciation, $67. C. debit Depreciation? Expense, S267; credit Accumulated? Depreciation, $267. D. debit Depreciation? Expense, $333; credit Accumulated? Depreciation, $333.
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter18: Accounting For Long-term Assets
Section: Chapter Questions
Problem 3CE
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