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please solve the double dclining Assume Equipment is purchased for $80,000 on January 1, 2020 The estimated useful life of the equipment is 4 years
please solve the double dclining
Assume Equipment is purchased for $80,000 on January 1, 2020 The estimated useful life of the equipment is 4 years and the residual value is $7.000 The equipment is expected to produce 25,000 total items over its useful life. Actual output was 10,000 items in year 1: 8,000 in year 2: 6,000 in year 3, and 1,000 in year 4. Calculate the depreciation for each year using Straight line, double declining balance, and activity method Straight Line: Double Declining: Depreciation Expense Year Accumulated Net Book Depreciation Value at end of year Year 1 Year 2 Year 3 Year 4 Calentate the Year 4 depreciation expense assuming the residual value was $1,000Step by Step Solution
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