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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Essentials Of Accounting
Authors: Leslie Breitner, Robert Anthony
11th Edition
0132744376, 978-0132744379
