ACCT 220 On January 2, 2016, Alpha Company acquired a new machine by signing a 5 year note for $72,000
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<strong>ACCT</strong> <strong>220</strong> <strong>On</strong> <strong>January</strong> 2, <strong>2016</strong>, <strong>Alpha</strong><br />
<strong>Company</strong> <strong>acquired</strong> a <strong>new</strong> <strong>machine</strong><br />
<strong>by</strong> <strong>signing</strong> a 5 <strong>year</strong> <strong>note</strong> <strong>for</strong> <strong>$72</strong>,<strong>000</strong><br />
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<strong>220</strong>-on-january-2-<strong>2016</strong>-alphacompany-<strong>acquired</strong>-a-<strong>new</strong>-<strong>machine</strong>-<strong>by</strong><strong>signing</strong>-a-5-<strong>year</strong>-<strong>note</strong>-<strong>for</strong>-72-<strong>000</strong>/<br />
<strong>On</strong> <strong>January</strong> 2, <strong>2016</strong>, <strong>Alpha</strong> <strong>Company</strong> <strong>acquired</strong> a <strong>new</strong> <strong>machine</strong> <strong>by</strong> <strong>signing</strong> a 5 <strong>year</strong> <strong>note</strong> <strong>for</strong> <strong>$72</strong>,<strong>000</strong>. The<br />
estimated service life is eight <strong>year</strong>s and the total units of output to be 200,<strong>000</strong>. The estimated residual<br />
value is $8,<strong>000</strong>. Using the straight-line method, how much is: (Enter only whole dollar values.)<br />
1. the 2017 depreciation expense<br />
2. the accumulate depreciation after the fiscal <strong>year</strong> 2017 adjusting entry<br />
3. the book value of the truck after the fiscal <strong>year</strong> 2017 adjusting entry
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