Project #75456 - Homework question 34

Question 34

Callon Co. uses the composite method to depreciate its equipment. The following totals are for all of the equipment in the group:

Initial
Cost
  Residual
Value
  Depreciable
Cost
  Depreciation
Per Year
$900,000   $100,000   $800,000   $80,000

 
What is the composite rate of depreciation? (Round answer to 1 decimal places, e.g. 52.7.)

Composite rate of depreciation   %
 

A machine with a cost of $23,000 was sold for $14,000 at the end of the third year. What entry should be made? (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation
Debit
Credit

 

Subject Mathematics
Due By (Pacific Time) 07/02/2015 06:45 pm
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