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19) Suppose the business purchased a new piece of equipment for a value of $36,000, on January 1, 2019. It is estimated that the equipment will last 6 years in the business, at which time it can be sold for $10,000. Using the Declining Balance Depreciation, what would the 2nd year's MONTHLY depreciation expense be? 1. $600   2. $5760   3. $480   4. $10,000

19) Suppose the business purchased a new piece of equipment for a value of $36,000, on January 1, 2019. It is estimated that the equipment will last 6 years in the business, at which time it can be sold for $10,000. Using the Declining Balance Depreciation, what would the 2nd year's MONTHLY depreciation expense be? 1. $600   2. $5760   3. $480   4. $10,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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19) Suppose the business purchased a new piece of equipment for a value of $36,000, on January 1, 2019. It is estimated that the equipment will last 6 years in the business, at which time it can be sold for $10,000. Using the Declining Balance Depreciation, what would the 2nd year's MONTHLY depreciation expense be?

1. $600
 
2. $5760
 
3. $480
 
4. $10,000
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