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Author Question: Ironworks Industries paid $120,000 for a machine with a $10,000 salvage value and an estimated life ... (Read 36 times)

Garrulous

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on: Feb 18, 2020
Ironworks Industries paid $120,000 for a machine with a $10,000 salvage value and an estimated life of 200,000 hours.
Ironworks reports on a calendar year basis and used the machine for 2,500 hours during the first year it owned the asset. Which of the following statements accurately compare the first year depreciation expense if the asset had been purchased on January 1 of the current year versus a March 1 acquisition date. (Round any intermediary calculations to the nearest cent and your final answer to the nearest dollar.)
◦ Depreciation Expense if acquired January 1 is $1,375 and if acquired March 1 is $1,146.
◦ In both cases, the Depreciation Expense is $1,375.
◦ Depreciation Expense if acquired January 1 is $1,375 and if acquired March 1 is $1,031.
◦ Depreciation Expense if acquired January 1 is $1,500 and if acquired March 1 is $1,250.
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
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Marked as best answer by Garrulous on Feb 18, 2020

rnehls

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Reply #1 on: Feb 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Garrulous

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Reply 2 on: Feb 18, 2020
YES! Correct, THANKS for helping me on my review

LVPMS

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Reply 3 on: Yesterday
Excellent

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