Stone Enterprise Purchased a Machine on January 3, 2008

question 36

Essay

Stone Enterprise purchased a machine on January 3, 2008. The machine cost $46,000 with an estimated salvage value of $2,000 and an estimated useful life of 10 years. As a result of technological improvements, a revision of the machine's useful life and estimated salvage value was made. On January 1, 2011, the equipment was estimated to last through 2012 with an estimated value at that time of $500. Stone uses the straight-line method for depreciation.
Prepare the journal entry to record depreciation on December 31, 2011.

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Definitions:

Expressing Ideas

The act of conveying thoughts, concepts, or visions through various means such as speech, writing, or artistic expression.

Indirect Approach

A communication strategy that involves leading with background information or context before getting to the main point or request.

Direct Approach

A communication strategy that involves addressing issues or conveying messages in a straightforward, clear, and concise manner without any circumvention.

Conclusions And Recommendations

The final part of a document or presentation where the summarized outcomes are discussed and suggestions for future action are offered.