Lakeside enterprises acquired a piece of equipment on

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Reference no: EM13577691

1.Hill Enterprises acquired a piece of machinery on January 3, 2006. The total cost of the machinery was $138,600. Hill estimated that the machinery would be used for 77,000 hours before being sold for an estimated $3,850. Hill uses the units-of-production method of depreciation. Assuming the machine was used for 15,800 hours during 2006, 18,300 hours during 2007 and 17,400 hours during 2008, the balance in the accumulated depreciation account on January 2, 2009 would be:
A. $45,900
B. $48,475
C. $90,125
D. $92,700

2. Lakeside Enterprises acquired a piece of equipment on January 3, 2007. The total cost of the equipment was $35,000. Lakeside estimated that the equipment would be used for 8 years before being sold for an estimated $7,000. Assuming the use of straight-line depreciation, the total depreciation expense for the year ended December 31, 2007 was:
A. $3,500
B. $4,000
C. $4,375
D. $5,250

Reference no: EM13577691

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