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An equipment was purchased at a cost of $33,600 on September 1, 2010. The equipment has an estimated residual value of $3,130 and an estimated useful life of five years or 21,600 hours. Assume the equipment was used for 1,060 hours from September 1 to December 31. Required: Calculate the amount of depreciation to report during the year ended December 31, using following methods(Round your answers to the nearest dollar amount. Omit the "$" sign in your response): Straight-line $ Double-declining-balance$
Advise Nathan if there is a valid contract with Dubious Connections Pty Ltd, and any remedies that may be available to him. (Make reference to relevant case law and support your answer).
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At the purchase date, the excess of Wallace's cost over its proportionate share of Goldman's book value was assigned to goodwill. On December 31, 2010, what is the Investment in Goldman Company balance (equity method) in Wallace's financial record..
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