Question
The Fluffy Laundromat purchased new washing machines and dryers for $70,000. The machines are expected to last 4 years and have a residual value of
The Fluffy Laundromat purchased new washing machines and dryers for $70,000. The machines are expected to last 4 years and have a residual value of $12,000. Prepare a depreciation schedule by using the 150% declining-balance method.
| End of Year | Annual Depreciation | Accumulated Depreciation | Book Value |
| 1 | $ | $ | $ |
| 2 | $ | $ | $ |
| 3 | $ | $ | $ |
| 4 | $ | $ | $12,000 |
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Commercial Printing IRS Audit Techniques Guide
Authors: Internal Revenue Service
1st Edition
1304133753, 978-1304133755
