Blossom Ltd. purchased a new machine on April 4, 2017, at a cost of $156,000. The company estimated that the machine would have a residual value of $14,000. The machine is expected to be used for 10,000 working hours during its four-year life. Actual machine usage was 1,600 hours in 2017; 2,400 hours in 2018; 2,200 hours in 2019; 2,100 hours in 2020; and 1,700 hours in 2021. Blossom has a December 31 year end.

Blossom Ltd. purchased a new machine on April 4, 2017, at a cost of $156,000. The company estimated that the machine would have a residual value of $14,000. The machine is expected to be used for 10,000 working hours during its four-year life. Actual machine usage was 1,600 hours in 2017; 2,400 hours in 2018; 2,200 hours in 2019; 2,100 hours in 2020; and 1,700 hours in 2021. Blossom has a December 31 year end.

Name: (2) Diminishing-balance using double the straight-line rate for 2017
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Description: (2) Diminishing-balance using double the straight-line rate for 2017 through to 2021.2017 expense $2018 expense2019 expense2020 expense2021 expenseCA2017 expense$$S58500487502437510375(3) Units-of-production for 2017 through to 2021.22720 Show Attem

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter10: Long-lived Tangible And Intangible Assets

Section: Chapter Questions

Problem 19E

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