question archive Equipment with a cost of $120,000 has an estimated salvage value of $15,000 and an estimated useful life of 5 years or 15,000 hours
Equipment with a cost of $120,000 has an estimated salvage value of $15,000 and an estimated useful life of 5 years or 15,000 hours
Subject:BusinessPrice: Bought3
Equipment with a cost of $120,000 has an estimated salvage value of
$15,000 and an estimated useful life of 5 years or 15,000 hours. Calculate the amount of depreciation for the second full year, during which the machine was used 5,000 hours. Prepare the journal entry to record the expense under the unit of activity method: (Remember to place the DR and CR before each account title, failure to do so, no points)
