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

question 94

Short Answer

A company purchased a machine for $75,000 that was expected to last 6 years and to have a salvage value of $6,000. At the beginning of the machine's fourth year the company decided that the 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.

---

Definitions:

Power

The ability or capacity to influence the behavior of others or the course of events, often through the possession of authority, strength, or resources.

Social Problems

Issues within a society that are widely recognized as being detrimental to the welfare of society members and are in need of remedy, such as inequality, poverty, and crime.

Macrosociological

Pertaining to large-scale social processes and structures, as opposed to individual or small group dynamics.

Microsociological

Relating to the detailed study of what people say, do, and think in the course of their everyday lives, often involving the analysis of the interactions between individuals.