Maserati Corporation purchased a new machine for its assembly process on August 1, 2010. The cost...
| Maserati Corporation purchased a new machine for its assembly process on | ||||||||
| August 1, 2010. The cost of this machine was $150,000. The company estimated | ||||||||
| that the machine would have a salvage value of $24,000 at the end of its service | ||||||||
| life. Its life is estimated at 4 years and its working hours are estimated at 21,000 | ||||||||
| hours. | ||||||||
| a. For depreciation entries entered only once a year, what would be the adjusting | check figure: monthly = 2,625.00 | ||||||||||
| entry required for December 31, 2010 using the straight-line method? | |||||||||||
Homework Answers
Calculate depreciation expense :
Depreciation expense (per year) = (Original cost-Salvage value)/Useful life
= (150000-24000)/4
Depreciation expense per year = 31500 per year
Depreciation expense for December 31,2010 = 31500*5/12 = 13125
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