Accelerated Depreciation Koffman's Warehouse purchased a forklift on January 1, 2017 for $160,000. The forklift...
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Accelerated Depreciation Koffman's Warehouse purchased a forklift on January 1, 2017 for $160,000. The forklift is expected to last for five years and have a residual value of $10,000. Koffman's uses the double-declining balance method for depreciation. Required: 1. Calculate the depreciation expense, accumulated depreciation, and book value for each year of the forklift's life. If necessary, round any deprecation calculations to the nearest dollar Year Annual Depreciation Accumulated Depreciation Book Value 2017 2018 2019 ill 2020 2021
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