Farthing Company acquired a $40,000 machine on January 1, 20X4. The machine is estimated to have...
Farthing Company acquired a $40,000 machine on January 1, 20X4. The machine is estimated to have a useful life of 5 years, and a residual value of $4,000.What is the depreciable value of the machine acquired by Farthing Company?
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$8,000 |
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cannot be determined without additional data |
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$4,000 |
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$40,000 |
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$36,000 |
Homework Answers
Answer:
Cost = $40,000
Residual Value = $4,000
Depreciable Value = Cost – Residual Value
Depreciable Value = $40,000 - $4,000
Depreciable Value = $36,000
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