A Company Purchased a Machine for $75,000 That Was Expected

question 152

Essay

A company purchased a machine for $75,000 that was expected to last six years and have a salvage value of $6,000.At the beginning of the machine's fourth year,the company decided that the machine's estimated useful life should be revised to a total of 10 years instead of 6 years.Also,the salvage value was re-estimated to be $5,500.Straight-line depreciation was used throughout the machine's life.Calculate the depreciation expense for the fourth year of the machine's useful life.

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Definitions:

Ethnic Ghettos

Urban areas predominantly inhabited by members of a specific ethnic group, often as a result of social, economic, or legal pressures.

Discriminatory Practices

Actions that unjustly differentiate or segregate individuals on the basis of arbitrary distinctions such as race, gender, age, or sexual orientation.

Homogeneous Culture

A culture in which most members share similar values, beliefs, and social practices, leading to minimal cultural diversity.

Melting Pot

A metaphor for a society where many different types of people blend together as one.