Queation 21 at 30 2.0 Points On November 1, BobCat Ine purchased new equipment w

Question

Queation 21 at 30 2.0 Points On November 1, BobCat Ine purchased new equipment with a list price of $21,000. The company paid cash for the machine: therom twas alowed a 2% a ociated with the machine were transportation costs, $1,340sax paid, $1,380, intalation conts $410. The cont recorded A. 820.580 con orwoon for the machine was OBS21000 C$21,820 Renet Selection Mark for Revlew Whats Tha Quetion 22 of 30 20 Peints OnJanuary 1, 2016, Racine Company purchased equipment at ost $55.000 cash The quipment had an expected x years and an essimated salvage value or 4.000. Assuming that Racine would be ospraciates ts assets under the straight-ne method, the amount of depreciation expense appearing on the December 31, 2017 income statemene O A. 58 187 ?.$17,000 D.$8 500 Mark for Review What's Thie? Quon 23 or 30 20 Points MacBook Air 3 4 5

Explanation / Answer

21) Calculate cost of machine :

So answer is d) $23710

22) Straight line depreciation = (55000-4000/6) = 8500

So answer is d) $8500

Purchase cost 21000 Less: Discount -420 Transportation cost 1340 Sales tax 1380 Installation cost 410 Total cost of machine 23710

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