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On October 1, 2024, the Allegheny Corporation purchased equipment for $203,000. The estimated service life of the equipment is 10 years and the estimated

 

On October 1, 2024, the Allegheny Corporation purchased equipment for $203,000. The estimated service life of the equipment is 10 years and the estimated residual value is $5,000. The equipment is expected to produce 300,000 units during its life. Required: Calculate depreciation for 2024 and 2025 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. Exercise 11-3 (Algo) Part 2 2. Double-declining-balance. Formula Amount for 2024 Amount for 2025 Double-Declining-Balance Method % % x Fraction of Year II = Depreciation Expense

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