Blake furniture recently purchased new equipment for its plant. The list price of the equipment was $40,000.Company paid sales taxes of $2,100 at the date of purchase. Freight charges for the equipment totaled $680. Installation and training costs related to the equipment amounted to $900. During installation, one of the pieces of equipment was accidentally damaged by an employee. It cost $400 to repair this damage. Blake furniture will depreciate this equipment by the straight-line method (half-year convention) and 150% declining balance method over an estimated useful life of 4 years assuming a $3,000 scrap value. Prepare depreciation schedules
Blake furniture recently purchased new equipment for its plant. The list price of the equipment was $40,000.Company paid sales taxes of $2,100 at the date of purchase. Freight charges for the equipment totaled $680. Installation and training costs related to the equipment amounted to $900. During installation, one of the pieces of equipment was accidentally damaged by an employee. It cost $400 to repair this damage. Blake furniture will depreciate this equipment by the straight-line method (half-year convention) and 150% declining balance method over an estimated useful life of 4 years assuming a $3,000 scrap value. Prepare depreciation schedules
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 8PB: Montello Inc. purchases a delivery truck for $25,000. The truck has a salvage value of $6,000 and is...
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Blake furniture recently purchased new equipment for its plant. The list price of the equipment
was $40,000.Company paid sales taxes of $2,100 at the date of purchase. Freight charges for the
equipment totaled $680. Installation and training costs related to the equipment amounted to $900.
During installation, one of the pieces of equipment was accidentally damaged by an employee. It
cost $400 to repair this damage. Blake furniture will
method (half-year convention) and 150% declining balance method over an estimated useful life
of 4 years assuming a $3,000 scrap value.
Prepare depreciation schedules
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