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-   -   In the journal provided, prepare the entries for the following transactions. (https://www.askmehelpdesk.com/showthread.php?t=759572)

  • Jul 23, 2013, 11:41 AM
    berniek1974
    In the journal provided, prepare the entries for the following transactions.
    On January 2, 2009, Vanowen Company purchased a machine for $80,000. The machine has an eight-year estimated useful life and an $8,000 estimated residual value. In addition, the company expects to use the machine 200,000 hours. Assuming that the machine was used 35,000 hours during 2010, complete the following chart. If a figure cannot be determined, indicate so by placing an X in the box. (Show your work.)

    Method Depreciation Expense for 2010 Carrying Value at 12/31/10
    Straight-line
    Production
    Double-declining-balance

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