On July 1,2014,Delta Company purchased and placed in service a machine that cost $360,000.Delta estimated the service life to be 5 years or 25,000 units of output,with an estimated residual value of $6,000.During 2014,2,600 units were produced.
Prepare the necessary December 31,2014,adjusting journal entry to record depreciation assuming Delta uses:
(a)The straight-line method of depreciation.
(b)The units-of-production method of depreciation.

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The Answer of On July 1,2014,Delta Company purchased and placed in service a machine that cost $360,000.Delta estimated the service life to be 5 years or 25,000 units of output,with an estimated residual value of $6,000.During 2014,2,600 units were produced.
Prepare the necessary December 31,2014,adjusting journal entry to record depreciation assuming Delta uses:
(a)The straight-line method of depreciation.
(b)The units-of-production method of depreciation.

On July 1,2014,Delta Company Purchased and Placed in Service a Machine