Question 19 HoneyBunny, Inc. purchased a machine on 1/1/2016 for $300,000. At the time of the purchase, th estimated that the machine would last 6 years and have a salvage value of $90,000. They begin depreciating the machine using the straight-line depreciation method. On 1/1/2019, they change their estimated salvage value to $50,000 and extend the useful life of the machine by 2 years. What amount of depreciation expense will HoneyBunny report (at year-end) in 2019 related to this machine?
Question 19 HoneyBunny, Inc. purchased a machine on 1/1/2016 for $300,000. At the time of the purchase, th estimated that the machine would last 6 years and have a salvage value of $90,000. They begin depreciating the machine using the straight-line depreciation method. On 1/1/2019, they change their estimated salvage value to $50,000 and extend the useful life of the machine by 2 years. What amount of depreciation expense will HoneyBunny report (at year-end) in 2019 related to this machine?
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter9: Depreciation (deprec)
Section: Chapter Questions
Problem 1R: Dunedin Drilling Company recently acquired a new machine at a cost of 350,000. The machine has an...
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