The following machines were purchased during 2013:
Machine A for $12,000 on April 7
Machine B for $8,000 on August 28
Machine C for $10,000 on November 5
Assuming that each machine has an estimated useful life of six years and a 10 percent residual value,calculate total depreciation expense for 2013 (assume that the company depreciates the asset on straight-line basis,reports on a calendar-year basis and rounds to the nearest month).

Question

Quizplus · Accepted Answer

The Answer of The following machines were purchased during 2013:
Machine A for $12,000 on April 7
Machine B for $8,000 on August 28
Machine C for $10,000 on November 5
Assuming that each machine has an estimated useful life of six years and a 10 percent residual value,calculate total depreciation expense for 2013 (assume that the company depreciates the asset on straight-line basis,reports on a calendar-year basis and rounds to the nearest month).

The Following Machines Were Purchased During 2013