Accounting Final 9-13 Flashcards
On January 1, 2018, McHenry Manufacturing Corporation purchased a machine for $40,600,000. McHenry's management expects to use the machine for 26,000 hours over the next six years. The estimated residual value of the machine at the end of the sixth year is $45,000. The machine was used for 3700 hours in 2018 and 5200 hours in 2019.
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