Equipment was purchased for $ 98100 on January 1, 2021. Freight charges amounted to $ 2600 and
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Equipment was purchased for $98100 on January 1, 2021. Freight charges amounted to $2600 and there was a cost of $8000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $25000 salvage value at the end of its 5-year useful life. What is the amount of accumulated depreciation at December 31, 2022 if the straight-line method of depreciation is used?
Related Book For
Intermediate Accounting
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
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