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use double diminishing balance method to find depreciation expense On April 22, 2020, Cullumber Enterprises purchased equipment for $132,000. The company expects to use the
use double diminishing balance method to find depreciation expense
On April 22, 2020, Cullumber Enterprises purchased equipment for $132,000. The company expects to use the equipment for 12,000 working hours during its 4-year life and that it will have a residual value of $12,000. Collumber has a December 31 year end and pro-rates depreciation to the nearest month. The actual machine usage was: 1.300 hours in 2020, 2.900 hours in 2021: 3.800 hours in 2022:2,800 hours in 2023; and 1.400 hours in 2024
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