Castle Rock owns a machine that it purchased on Jan 1,2016 for $400,000.The machine had an estimated useful life of 10 years with a production capacity for 80,000 units and was expected to have no residual value.The company uses the units-of-production method to record depreciation.The machine produced 15,000 units in 2016,18,000 units in 2017 and 25,000 units in 2018.The machine was sold on December 31,2018 for $350,000.What was the depreciation expense for 2018?
A) $39,000
B) $40,000
C) $90,000
D) $125,000
Correct Answer:
Verified
Q58: What is the meaning of "net realizable
Q61: Seneca Valley owns a machine that it
Q62: FeelGood Corp.purchased equipment on January 1,2017 for
Q63: Fantasy Limited purchased equipment on January 1,2015
Q64: Historic Pieces Inc.purchased equipment on January 1,2018
Q66: Seneca Valley owns a machine that it
Q67: Centennial owns a machine that it purchased
Q68: Ceila Manufacturing purchased equipment on January 1,2018
Q69: Francisco owns a machine that it purchased
Q70: Seally Corp.owns a machine that it purchased
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents