Knife Edge Company purchased tool sharpening equipment on July 1, 2010, for $16,200. The equipment was expected
Question:
Knife Edge Company purchased tool sharpening equipment on July 1, 2010, for $16,200. The equipment was expected to have a useful life of three years and a residual value of $900.
Instruction
Determine the amount of depreciation expense for the years ended December 31, 2010, 2011, 2012, and 2013, by
(a) The straight-line method
(b) The double-declining-balance method.
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a Straightline method 2010 16200 900 3 12 2550 2011 16200 900 3 5100 20...View the full answer
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