Question
On July 1, 2021, Flax company acquired equipment for $1,500,000. Its estimated life was 5 years or 40,000 hours. The residual value was estimated as
On July 1, 2021, Flax company acquired equipment for $1,500,000. Its estimated life was 5 years or 40,000 hours. The residual value was estimated as $100,000.
What was the balance in Accumulated Depreciation on December 31, 2022 if Flax company used the DDB method?
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Microeconomics
Authors: Michael Parkin
6th Edition
0321112075, 9780321112071
