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Determine the residual value of the printing machine

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Reference no: EM132276470

Question - Business X bought a machine at a price of 240000. The life of the machine is 20 years while the company intends to use it for 144 months. The productivity of the machine is measured according to the number of hours of operation. The total number of operating hours of the machine during its lifetime is 47,440 hours. The total number of operating hours of the machine during its entire lifetime is 23,000 hours. During the December 31, 2012, the machine was used for 700 hours, for December 31, 2013 the usage time was 800 hours, for December 31, 2023 the operating time was 1400 hours and for December 31, 2024 the usage time was 660 hours. The printing machine was used uniformly between 2014 and 2022. It has also been used consistently throughout each year for the duration of its use.

Determine the residual value of the printing machine knowing that the accumulated depreciation for 2020 and 2021 are respectively: $ 166,200 and $ 187,800.

Determine the hours of operation of the machine between 2014 and 2022.

Reference no: EM132276470

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