Solution-Compute the depreciation for the current fiscal

Compute the depreciation for the current fiscal year

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Reference no: EM132522087

Partial-Year Depreciation

Equipment acquired at a cost of $73,000 has an estimated residual value of $4,000 and an estimated useful life of 10 years. It was placed in service on April 1 of the current fiscal year, which ends on December 31.

If necessary, round your answers to the nearest cent.

Question a. Determine the depreciation for the current fiscal year and for the following fiscal year by the straight-line method.

Question b. Determine the depreciation for the current fiscal year and the following fiscal year by the double-declining-balance method.

Reference no: EM132522087

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Compute the depreciation for the current fiscal year

Reference no: EM132522087

Reference no: EM132522087

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