Alpha Company purchased a machine on January 1, 2017 for $60,000. The machine was estimated to have a service life of 10 years with an estimated residual value of $5,000.
Alpha Company purchased a machine on January 1, 2017 for $60,000. The machine was estimated to have a service life
of 10 years with an estimated residual value of $5,000. Alpha sold the machine on January 1,2021 for $10,000. A,pha uses the double declining method for depreciation. Using this information, how much is: (Enter whole dollar only, for loss amounts enter the $& value inside the brackets)
1-the 2020 depreciation expense
2- the accumulated depreciation after the FY 2020 adjusting entry
3-the book value of the machine on December 3, 2020
4-the gain/loss for the equipment sale entry on January 1, 2021
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