FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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E9.7 (LO 2), AP Gotham Company purchased a new machine on October 1, 2025, at a cost of $90,000. The company estimated that the machine has a salvage value of $8,000. The machine is expected to be used for 70,000 working hours during its 10-year life. Instructions Compute the depreciation expense under the straight-line method for 2025 and 2026, assuming a December 31 year-end.
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Transcribed Image Text:E9.7 (LO 2), AP Gotham Company purchased a new machine on October 1, 2025, at a cost of $90,000. The company estimated that the machine has a salvage value of $8,000. The machine is expected to be used for 70,000 working hours during its 10-year life. Instructions Compute the depreciation expense under the straight-line method for 2025 and 2026, assuming a December 31 year-end.
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Step 2: Depreciation Expense Under Straight Line Method
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Step 3: Depreciation Expense For the Year 2025 & 2026
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