How does the FFA help young people prepare for careers in agriculture?
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Ответ:
The correct answer is not in the answer options. Depreciation expense = $61,600
Explanation:
Cost of machine = $480000
Residual value = $40,000
The machine is expected to make 4,000,000 units. This is it's useful life.
It makes 560,000 during current period
We solve for depreciation
Depreciation = (machine cost - residual value)/useful life
= $480,000-$40,000/4,000,000
= 440,000/4,000,000
= 0.11
Depreciation expense = 0.11 x 560,000
= $61600