Robb Company purchased equipment on July 1, 1993, for $72,000. The equipment was expected to...
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Accounting
Robb Company purchased equipment on July 1, 1993, for $72,000. The equipment was expected to have a useful life of 4 years and a residual value of $3,000.
Determine the amount of depreciation expense for the years ended December 31, 1993, 1994, 1995, 1996, and 1997 by:
- Straight-line method
- The declining-balance method, using twice of straight-line
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