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Jones Company purchases new equipment on January 1, 2020. The equipment cost $261,000, had a useful life of four years, and an estimated salvage value
Jones Company purchases new equipment on January 1, 2020. The equipment cost $261,000, had a useful life of four years, and an estimated salvage value of $30,000. The company calculates depreciation using the double-declining method. Required: Complete the table below to calculate depreciation expense, accumulated depreciation, and year-end book value for the four year life of the equipment. (Round to the nearest dollar. Enter all amounts positive values.) End of Period Depreciation for the Period Beginning-Year Depreciation Annual Book Value Rate Depreciation Year Accumulated Depreciation Year-End Book Value 2020 2021 2022 2023 Total $ 0
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