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stering Depreciation uses the straight-line method. Assets purchased between the 1* and 15hare depreciated for the entire month; assets purchased after the 15th as though

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stering Depreciation uses the straight-line method. Assets purchased between the 1* and 15hare depreciated for the entire month; assets purchased after the 15th as though te acquired the following month. On May 2, 20x1, ZyCo purchases for $25,000 ftrth that it expects to last for 10 years and to have a residual value of $1,000. What is balance in the accumulated depreciation account at the end of 20x37 y were furniture a. $2,400 b. $6,400 c. $7,200 d. Insufficient information to calculate Under GAAP, the straight-line depreciation rate equals: a. Depreciable base/Years of estimated life 0. b. Depreciation rate Depreciable base c. (Original cost-Residual value)/Years of estimated life d. 1/Years of estimated life . On January 1, 20X1, PrimeCo, which uses the straight-line method, purchases for $59,000 a machine that it expects to last for 10 years and to have a residual value of $8,000. What is the balance in the Accumulated Depreciation account at the end of 20x4? ) $20,400 b. $15,300 c. $23,600 d. $38,600

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