Calculate depreciations in the given problem

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Question: Calculate depreciations and show these in the income statement and balance sheet for year 20x5 From the balance sheet at December 31, 20x4:

Land 200

Buildings 500

Less: Accumulated Depreciation -200

Equipment 400

Less: Accumulated Depreciation -160

The company depreciates equipment with the straight-line method. The equipment's useful life is only 10 years and with zero residual value. In early July 20x5 the company purchased additional equipment for $100.

Reference no: EM131793292

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