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Janz Corporation purchased a piece of machinery on January 1, 2015. The company’s year-end is December 31. The following information is applicable:
Output during 2016 and 2017 was 2,000 and 3,000 units, respectively.
Required:
- Calculate the depreciation expense for 2016 and 2017.
- What is the balance of accumulated depreciation at the end of 2017?
- What is the carrying amount of the machinery shown on the balance sheet at the end of 2017?
- Prepare a partial comparative balance sheet for Janz Corporation at the end of 2017.
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