Problem: Cullumber Inc. manufactures miniature circuit boards used in smartphones. On June 52021, Cullumber purchased a circuit board stamping machine at a retail price of $28,000. Cullumber paid 5% sales tax on this purchase and hired a contractor to build a specially wired platform for the machine for $2,000, to meet safety requirements. Cullumber estimated the machine would have a 5-year useful life, with a residual value of $2,100 at the end of 5 years. Cullumber uses straight-line depreciation and employs the "half-year" convention in accounting for partial-year depreciation. Cullumber's fiscal year ends on December 31 and follows ASPE.
(a) At what amount should Cullumber record the acquisition cost of the machine? Acquisition cost of the machine eTextbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit Answer
(b) The parts of this question must be completed in order. This part will be available when you complete the part above.
(c) 44 DD How much depreciation expense should Cullumber have recorded in 2021 and in 2022? 2021 2022 Depreciation expense At what amount will the machine be reported in Cullumber's SFP at December 31, 2022? Machine reported at $ is n