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Depreciation method: straight line purchase date: 1/1/10 cost: $225,000.00 estimated life: 20 sales price: $25,000.00 date sold: 12/31/15 a) What is the depreciation expense for
Depreciation method: straight line
purchase date: 1/1/10
cost: $225,000.00
estimated life: 20
sales price: $25,000.00
date sold: 12/31/15
a) | What is the depreciation expense for yr 20 using the straight-line method? | |||||
b) | What is the net book value of the equipment at the end of year 15? | |||||
c) | Calculate gain/loss on sale of equipment. | |||||
d) | What is the account balance in accumulated depreciation at the end of yr 20? | |||||
e) | What is the depreciation expense for yr 1 using the double declining method? | |||||
f) | Assuming the equipment was purchased on June 1, 2010 and sold on 12/31/2015, what is the gain or loss on sale ? |
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