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What amount should be shown in Tulip balance sheet

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Question - On July 1, 2019, Tulip Corp. purchased a new machine for $600,000. The new machine has an estimated useful life of ten years and the residual value was estimated to be $100,000. Depreciation was calculated using the double declining-balance method. To the nearest dollar, what amount should be shown in Tulip's balance sheet at December 31, 2020, for accumulated depreciation, for this machine?

Reference no: EM132619259

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