Question
On June 1, 2022, Duncan Inc. purchased equipment for $75,000. The equipment had an estimated useful life of 10 years and an estimated salvage value
On June 1, 2022, Duncan Inc. purchased equipment for $75,000. The equipment
had an estimated useful life of 10 years and an estimated salvage value of
$6,000. Assume the company employs the straight-line method of depreciation.
Calculate the amount of accumulated depreciation on the equipment shown in
the balance sheet at December 31, 2028.
I got 62120 is that correct?
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Taxation Of Individuals And Business Entities 2015
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
6th Edition
978-1259206955, 1259206955, 77862368, 978-0077862367
