FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Cheetah Copy purchased a new copy machine. The new machine cost $116,000 including installation. The company estimates the equipment will have a residual value of $29,000. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows:
Year | Hours Used |
1 | 2,800 |
2 | 2,000 |
3 | 2,000 |
4 | 2,000 |
1. Prepare a
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