Question
On January 1, 2016, ABC Corporation purchased $40,000 of equipment. The equipment has an expected life of 15 years and a residual value of $3,000.
On January 1, 2016, ABC Corporation purchased $40,000 of equipment. The equipment has an expected life of 15 years and a residual value of $3,000. Assuming that ABC uses the Sum-of-the-Years'-Digits method for determining depreciation expenses. What is the book value of the equipment at the end of 2016?
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The Practice Of Modern Internal Auditing
Authors: Lawrence B Sawyer
2nd Edition
0894130927, 978-0894130922
