Machinery was purchased for $340000 on January 1, 2022. Freight charges amounted to $12000 and there was a cost of $30000 for building a foundation and installing the machinery. It is estimated that the machinery will have a $45000 salvage value at the end of its 4-year useful life. What is the amount of accumulated depreciation at December 31, 2023 if the straight-line method of depreciation is used

$168,500

Explanation:

Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

Cost = $340,000 + $30,000 + $12,000 = $382,000

($382,000 - $45000) / 4 = $84,250

Accumulated depreciation is the sum of depreciation

$84,250 × 2 = $168,500

I hope my answer helps you

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hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi