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need help with this one please. thanks Question 1 (8 points):|ABC Company purchased equipment on April 1,2023 for $90,000. ABC depreciated the equipment using the
need help with this one please. thanks
Question 1 (8 points):|ABC Company purchased equipment on April 1,2023 for $90,000. ABC depreciated the equipment using the straight-line method. The equipment has a 10 -year useful life and an estimated salvage value of $6,000. Required: (a) Assuming ABC Company has a 12/31 vear end, calculate what depreciation expense was for 2023. Show your calculations in good form. (b) Prepare the 12/31/23 adjusting journal entry to record the depreciation for 2023. (c) Calculate the book value of the equipment on 12/31/2023 and 12/31/2024Step by Step Solution
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