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On January 1, 2010, Shine Company purchased for 2,000,000 tea-making equipment having an estimated useful life of 10 years with an estimated residual value of
On January 1, 2010, Shine Company purchased for 2,000,000 tea-making equipment having an estimated useful life of 10 years with an estimated residual value of 50,000. Depreciation is taken for the portion of the year the asset is used.
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Determine the depreciation expense for 2010 using the
1. Double-declining balance method.
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