On January 1, 2023, PetraCo Ordered a New Machine to Help

question 17

Essay

On January 1, 2023, PetraCo ordered a new machine to help increase production for one of its most popular products. The machine had an invoice price of $30,000 and PetraCo was required to pay shipping ($1,200) and insurance during shipping ($300) by boat from British Columbia to Toronto. The machine arrived on January 5, 2019 and was installed at a cost of $800 and calibrated and tested for a cost of $200. On February 1, 2019 it was put into operation. PetraCo's fiscal year runs from January to December. Round all final answers to the nearest dollar.
-The machine was expected to last 10 years with a salvage value of $2,500.Prepare the journal entry to record depreciation for 2019 using the double-declining balance method of depreciation.

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Definitions:

Higher-order Conditioning

A complex form of classical conditioning where a stimulus is paired with a previously conditioned stimulus, rather than with an unconditioned stimulus, to elicit a response.

Discriminative Stimuli

Refer to environmental cues or signals that indicate the probable consequence of a particular behavior, guiding organisms to respond accordingly.

Nausea-inducing

Descriptive of something that causes a sensation of unease and discomfort in the stomach, leading to the urge to vomit.

Garcia

Likely refers to John Garcia, a researcher known for his work in taste aversion and how organisms learn to avoid certain stimuli.