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after a useful life of 10 years. Your answers are correct. the formulas, determine the depreciation charge for year and the ciation is used. acation $ 100400 467600

after a useful life of 10 years. Your answers are correct. the formulas, determine the depreciation charge for year and the ciation is used. acation $ 100400 467600

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A draw bench for precision forming and strengthening of carbon steel tubing has a cost of $1,070,000. It will have a salvage value of $66,000 after a useful life of 10 years. Part a Your answers are correct. Using the formulas, determine the depreciation charge for year 6 and the book value at the end of year 6 if straight-line depreciation is used. Depreciation charge: Book value: Part b $ eTextbook and Media $ Carry all interim calculations to 5 decimal places and then round your final answers to a whole number. The tolerance is 11. Depreciation charge: Book value: 100400 Using the formulas, determine the depreciation charge for year 6 and the book value at the end of year 6 if double declining balance depreciation is used. $ 7600 $ Attempts: 1 of 10 used Carry all interim calculations to 5 decimal places and then round your final answers to a whole number. The tolerance is 15.
Transcribed Image Text:A draw bench for precision forming and strengthening of carbon steel tubing has a cost of $1,070,000. It will have a salvage value of $66,000 after a useful life of 10 years. Part a Your answers are correct. Using the formulas, determine the depreciation charge for year 6 and the book value at the end of year 6 if straight-line depreciation is used. Depreciation charge: Book value: Part b $ eTextbook and Media $ Carry all interim calculations to 5 decimal places and then round your final answers to a whole number. The tolerance is 11. Depreciation charge: Book value: 100400 Using the formulas, determine the depreciation charge for year 6 and the book value at the end of year 6 if double declining balance depreciation is used. $ 7600 $ Attempts: 1 of 10 used Carry all interim calculations to 5 decimal places and then round your final answers to a whole number. The tolerance is 15.
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