On January 1,a Company Purchased a Machine for $75,000 That

question 97

Essay

On January 1,a company purchased a machine for $75,000 that had a 6-year useful life and a salvage value of $6,000.After three years of straight-line depreciation,on January 1,2010 the company paid $7,500 cash to improve the efficiency of the machine.The effect of the expenditure was to increase the productivity of the machine without increasing its remaining useful life or changing its salvage value.Straight-line depreciation is used throughout the machine's life.
1.Prepare the journal entry to record the $7,500 expenditure.
2.What amount of depreciation expense should be recorded for 2010?

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Definitions:

Opposite-Sex Friends

Relationships of friendship between individuals of different genders, characterized by mutual respect and non-romantic affection.

School-Age Girls

Female children typically aged between 6 and 12 years, enrolled in elementary or primary education.

Affectionate

Displaying warmth, fondness, or tenderness towards others.

Momentary Playmateship

Momentary playmateship describes brief, spontaneous interactions and relationships formed between children during play, typically characterized by limited commitment and duration.