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WITH FORMULAS PLEASE (EXCEL SPREADSHEET) On January 2, ABC Landscape bought the equipment with a base price of $36,000, and paid $2,000 freight and $2,000
WITH FORMULAS PLEASE (EXCEL SPREADSHEET)
On January 2, ABC Landscape bought the equipment with a base price of $36,000, and paid $2,000 freight and $2,000 in installation. The equipment has an estimated salvage value of $4,000 and an estimated useful life of 5 years. At the end of year 3 , the company sells this equipment for $18,000. 9 How much is the straight line depreciation expense each year? 10 How much would the depreciation expense have been in year 1 if ABC used double-declining balance? 11 Assuming that the company used straight-line depreciation, what is the gain or loss on saleStep by Step Solution
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