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On January 1, Year 1, Your Ride inc paid $36,000 cash to purchase a taxi...

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Accounting

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On January 1, Year 1, Your Ride inc paid $36,000 cash to purchase a taxi cab. The taxi had a 4-year useful life and a $4,300 salvage value. Required: a. Determine the amount of depreciation expense that would appear on the Year 1 and Year 2 income statements using the straightline method. b. Determine the amount of accumulated depreciation that would oppear on the Year 1 and Year 2 balance sheets

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