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On April 30, 2018, Quality Appliances purchased equipment for $303,000. The estimated service life of...

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Accounting

On April 30, 2018, Quality Appliances purchased equipment for $303,000. The estimated service life of the equipment is six years and the estimated residual value is $33,000. Quality's fiscal year ends on December 31. Required: Calculate depreciation for 2018 and 2019 using each of the three methods listed. Quality calculates partial year depreciation based on the number of months the asset is in service.

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Sum of the years digits

Double Decline balance

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