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On January 1, 2017, Sport Company purchased for $3,600,000 snow-making equipment having an estimated useful life of 5 years with an estimated salvage value of
On January 1, 2017, Sport Company purchased for $3,600,000 snow-making equipment having an estimated useful life of 5 years with an estimated salvage value of $150,000. Depreciation is taken for the portion of the year the asset is used. Instructions Complete the form below by determining the depreciation expense and year-end book values for 2017 and 2018 using the 1. straight-line method 2. sum-of-the-years-digits method 3.double-declining balance method. 2017 $3,600,000 2018 $3,600,000 straight line method Equipment Loss: Accumulated Depreciation Year-End Book Value Depreciation Expense for the Year 2017 $3.600.000 2018 $3,600,000 Sum of the Year Do Method Equipment Less Accumulated Depreciation Year-End Book Value Depreciation Expense for the Year 53 600 000 $3.500.000 Dost Deco Balance Method Equipment Les Accumulated Depreciation Year-End Book Value
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