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PLEASE HELP, KEEP GETTING IT WRONG (ACCOUNTING)


Vita Water purchased a used machine for $117,800 on January 2, 2020. It was repaired the next day at a cost of $5,663 and installed on a new platform that cost $1,537. The company predicted that the machine would be used for six years and would then have a $21,320 residual value. Depreciation was to be charged on a straight-line basis to the nearest whole month. A full year’s depreciation was recorded on December 31, 2020. On September 30, 2025, it was retired.


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Answer #1

Cost of Asset Purchase price Cost of repairs Installation cost Total cost of new machine $117,800 $5,663 $1,537 $125,000 Cost

answered by: ANURANJAN SARSAM
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