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borishaifa [10]
3 years ago
14

Vaughn Manufacturing purchased equipment for $12240 on January 1, 2017. The company expects to use the equipment for 5 years. It

has no salvage value. What balance would be reported on the December 31, 2017 balance sheet for Accumulated Depreciation?
Business
1 answer:
tresset_1 [31]3 years ago
3 0

Answer:

Accumulated Depreciation as on  31st December 2017 is 2448

Explanation:

Depreciation using straightline method=<u>Cost of equipment-salvagevalue</u>

                                                                           useful life of the asset

Depreciation =<u> 12,240-0</u>

                            5years

Depreciation on 31st December 2017 = $2448

<u></u>

<u></u>

<u></u>

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