Alladin company purchased machine 201 on may 1 2010 the

Reference no: EM13607632

Alladin Company purchased Machine #201 on May 1, 2010. The following information relating to Machine #201 was gathered at the end of May:
Price $85,000

Credit terms 2/10, n/30
Freight in costs $800
Preparation & installation costs $3,800
Labor costs during regular production operations $10,500

It was expected that the machine could be used for 10 years, after which the salvage value would be zero. Alladin intends to use the machine for only 8 years, however, after which it expects to be able to sell it for $1,500. The invoice for Machine #201 was paid May 5, 2010. Alladin used the calendar year as the basis for the preparation of financial statements.

Question: Compute the depreciation expense for the years indicated using the straight-line method for 2010

Reference no: EM13607632

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