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On January 1, 2018, Star Inc. purchased equipment for the new plant. The company paid $160,000 for the new equipment. Assume the company uses the
On January 1, 2018, Star Inc. purchased equipment for the new plant. The company paid $160,000 for the new equipment. Assume the company uses the double-declining balance method to depreciate the equipment and that the machines have an expected useful life of 4 years with no residual value. Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole dollar. a) Prepare the following schedule to record the depreciation expense, accumulated depreciation and net book value for the 4 years. b) Give the journal entry to record depreciation expense at the end of 2019
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