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A company purchased a machine for $205,000 on October 1, 2024. The estimated service life is 10 years with a $19,500 residual value. The company records partial- year depreciation based on the number of months in service. Depreciation expense for the year ended December 31, 2024, using straight-line depreciation, is: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount) O $3,563. O $15,375. O $5,125. O$4,638.

A company purchased a machine for $205,000 on October 1, 2024. The estimated service life is 10 years with a $19,500 residual value. The company records partial- year depreciation based on the number of months in service. Depreciation expense for the year ended December 31, 2024, using straight-line depreciation, is: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount) O $3,563. O $15,375. O $5,125. O$4,638.

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter8: Operating Assets: Property, Plant, And Equipment, And Intangibles
Section: Chapter Questions
Problem 8.5E: Change in Estimate Assume that Bloomer Company purchased a new machine on January 1, 2016, for...
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QUESTION 23 A company purchased a machine for $205,000 on October 1, 2024. The estimated service life is 10 years with a $19,500 residual value. The company records partial- year depreciation based on the number of months in service. Depreciation expense for the year ended December 31, 2024, using straight-line depreciation, is: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount) $3,563. $15.375, O $5,125. $4,638.
Transcribed Image Text:QUESTION 23 A company purchased a machine for $205,000 on October 1, 2024. The estimated service life is 10 years with a $19,500 residual value. The company records partial- year depreciation based on the number of months in service. Depreciation expense for the year ended December 31, 2024, using straight-line depreciation, is: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount) $3,563. $15.375, O $5,125. $4,638.
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