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Problem 9-4A Calculating depreciation-partial periods LO2, 3 On July 1, 2020, Yorkton Company purchased for $456,000 equipment having an estimated useful life of five years
Problem 9-4A Calculating depreciation-partial periods LO2, 3 On July 1, 2020, Yorkton Company purchased for $456,000 equipment having an estimated useful life of five years with an estimated residual value of $25,000. Depreciation is calculated to the nearest month. The company has a December 31 year-end. Required: Complete the following schedules: (Amount to be deducted should be indicated by a minus sign.) 2020 2021 2022 1. Double-declining-balance method: Equipment Less: Accumulated depreciation Year-end book value Depreciation expense for the year $ 0 $ 0 $ 0 2. Straight-line method: Equipment Less: Accumulated depreciation Year-end book value Depreciation expense for the year $ 0 $ 0 $ 0
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