Composite depreciation.
Callon Co. uses the composite method to depreciate its equipment. The following totals are for all of the equipment in the group:
Instructions

(a) What is the composite rate of depreciation? (To nearest tenth of a percent.)
(b) A machine with a cost of $23,000 was sold for $14,000 at the end of the third year. What entry should be made?

Question

Composite depreciation.
Callon Co. uses the composite method to depreciate its equipment. The following totals are for all of the equipment in the group:  
Instructions

(a) What is the composite rate of depreciation? (To nearest tenth of a percent.)
(b) A machine with a cost of $23,000 was sold for $14,000 at the end of the third year. What entry should be made?

Quizplus · Accepted Answer

The Answer of Composite depreciation.
Callon Co. uses the composite method to depreciate its equipment. The following totals are for all of the equipment in the group:  
Instructions

(a) What is the composite rate of depreciation? (To nearest tenth of a percent.)
(b) A machine with a cost of $23,000 was sold for $14,000 at the end of the third year. What entry should be made?

Composite Depreciation. Callon Co. Uses the Composite Method to Depreciate Its Equipment