Business, 27.03.2021 01:00 nestergurl101

On January 1,2019,Woodstock, Inc. purchased a machine costing $40,000.Woodstock also paid $1,000 for transportation and installation. The expected useful life of the machine is 6 years and the residual value is $5,000. If Woodstock uses the straight-line depreciation method, which of the following statements is incorrect? A) The annual depreciation expense is $6,000.
B) The December 31,2019 book value is $35,000.
C) The December 31,2021 accumulated depreciation balance is $18,000.
D) The December 31,2020 book value is $24,000.

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On January 1,2019,Woodstock, Inc. purchased a machine costing $40,000.Woodstock also paid $1,000 for...

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