Please help! Presented below is information related to Tamarisk Manufacturing Corporation. Asset...
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Accounting
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Presented below is information related to Tamarisk Manufacturing Corporation. Asset Estimated Life (in years) 10 A B D E Cost $47,800 32,800 36,300 19,800 24,000 Estimated Salvage $6,300 4,900 3,900 1,600 2,700 9 9 7 6 Compute the rate of depreciation per year to be applied to the plant assets under the composite method. (Round answer to 2 decimal place, e.g. 4.83%.) Composite rate % Prepare the adjusting entry necessary at the end of the year to record depreciation for the year. (If no entry is required, select "No entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Use Plant Assets related account.) Account Titles and Explanation Debit Credit
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