Name: Class: Date: Financial Accounting ACC111-Professor Horowitz Test 3- Fall 2017 4. Equipment purchased at...
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Name: Class: Date: Financial Accounting ACC111-Professor Horowitz Test 3- Fall 2017 4. Equipment purchased at the beginning of the fiscal year for $360.000 is expected to have a useful life of 5 years, or 14,000 operating hours, and a residual value of $10,000. Compute the depreciation for the first and second years of use by each of the following methods: (a) straight-line (b) units-of-output (1,200 hours first year; 2,250 hours second year) (c) double-declining-balance
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