Lakeshore purchased equipment for $80,000 on September 1, 2018. There is no residual/salvage value for this equipment.

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Lakeshore purchased equipment for $80,000 on September 1, 2018. There is no residual/salvage value for this equipment. The useful life is 4 years. Using the straight-line method of depreciation, what is the depreciation expense for 2019?

a). $26,667

b). $20,000

c). $10,000

d). $6,667

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0324592375

17th Edition

Authors: James D. Stice, Earl K. Stice, Fred Skousen

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Posted Date: Jan 19, 2021 06:26 PM

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Lakeshore purchased equipment for $80,000 on September 1, 2018. There is no residual/salvage value for this equipment.

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Depreciation 20000 Solution Annual depreciation under st... View the full answer

Intermediate Accounting

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