The University of Northern Utah purchased a new van on January 1, 2002, for $30,000. The estimated

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The University of Northern Utah purchased a new van on January 1, 2002, for $30,000. The estimated life of the van was five years or 95,000 miles, and its salvage value was estimated to be $2,000. Compute the amount of depreciation expense for 2002, 2003, and 2004 using the following methods: 1. Double-declining-balance. 2. 175% declining-balance. 3. Sum-of-the-years’-digits.

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Financial Accounting

ISBN: 9780324066708

8th Edition

Authors: W. Steven Albrecht, James D. Stice, Earl Kay Stice, K. Fred Skousen, Albrecht S.E.

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