Use the information for Odyssey Ltd. in BEll-5. In exercise Odyssey Ltd. purchased machinery on January 1,
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In exercise
Odyssey Ltd. purchased machinery on January 1, 2014, for $60,000. The machinery is estimated to have a residual value of $6,000 after a useful life of eight years.
(a) Calculate the 2014 depreciation expense using the sum of- the-years'- digits method.
(b) Calculate the 2014 depreciation expense using the sum-of-the-years'-digits method, but assuming the machinery was purchased on April 1, 2014.
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Related Book For
Intermediate Accounting
ISBN: 978-0176509736
10th Canadian Edition, Volume 1
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
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