Depreciation In early 2019, Sosa Enterprises purchased a new machine for $11,800 to make cork stoppers for wine bottles. The machine has a 3-year recovery period and is expected to have a salvage value of $1,980. Develop a depreciation schedule for this asset using t MACRS depreciation percentages in the table 1 Complete the depreciation schedule for the asset below: (Round the percentage to the nearest integer and the depreciation to the nearest dollar.) Depreciation Schedule Year 1 Cost (1) $11,800 Percentage (2) Depreciation (1)×(2) $

Early-July 2021: A significant renovation of the building was completed at a cost of $30,000. The renovation is expected to provide the building with a useful life of 25 years. This involved the scrapping of an old kitchen with carrying value of $4,000.what is the entry for building depreciation and show working of calculation.

Haresh

Determine depreciation for that first year using both the Straight-Line Method and the Units of Activity Method as well as determine if there was a gain or loss on disposal from the problem below.   On February 1, 2021, Harper Brewing Co. purchased a truck for $20,000. It's expected salvage value is $500. The estimated useful life (in years) is 5 years. And the estimated useful life (in miles) is 100,000. On December 31, 2021, Harper Brewing Co. sells the truck for $10,000 after driving it for 30,000 miles.