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can someone explain how to calculate this? and the fastest way to calculate using the reducing-balance method in an exam setting. Martha purchased equipment at
can someone explain how to calculate this? and the fastest way to calculate using the reducing-balance method in an exam setting.
Martha purchased equipment at the beginning of July 2010 for $300 000, estimating it will have a salvage value of $45 000 and a useful life of 10 years. She will use the reducing-balance depreciation method (at 2.1 times the straight line rate). Which of the following statements regarding Martha's financial statements at 30 June 2012 is NOT correct? Equipment = $300,000 Depreciation expense = $63,000 None of the other alternatives 0 Accumulated depreciation = $112,770Step by Step Solution
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