Menu
support@businesspapershelp.com
+1(805) 568 7317

question orion flour mills purchased a new machine on april 1 2018 and made the foll 4277800

Question

Orion Flour Mills purchased a new machine on April 1, 2018 and made the following expenditures: The machine, including sales tax. was purchased on account, with payment due in 30 days. The other expenditures listed above were paid in cash. The company expects to keep the machine for 4 years and then sell the machine for $12,000. Record the above expenditures for the new machine. Record depreciation for 2018 and 2019. At the end of 2021 (before the annual depreciation calculation/entry), the that the equipment will be useful for another 2 years (until the end of 2023) and expects that the machine can be sold for $16, 500 at that time. How much should Orion record for depreciation in 2021? On December 31, 2022, Orion sells the machine for $20.000. Record the journal entry for the sale of the machine (assume depreciation is caught up before the sale).

"Order a similar paper and get 15% discount on your first order with us
Use the following coupon
"GET15"

Order Now