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Required information Exercise 11-3 (Algo) Depreciation methods; partial periods [LO11-2] Skip to question [The following information applies to the questions displayed below.] On October 1,
Required information
Exercise 11-3 (Algo) Depreciation methods; partial periods [LO11-2]
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[The following information applies to the questions displayed below.]
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.
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