Equipment with a cost of $160,000 has an estimated residual value of $10,000 and an estimated life of 4 years or 12,000 hours. It is to be depreciated by the diminishing value method with a constant depreciation rate of 37.5% p.a. What is the amount of depreciation expense for the first full year, during which the equipment was used 3,300 hours? a. $60,000. b. $80,000. c. $56,250. d. $55,500.

Equipment with a cost of $160,000 has an estimated residual value of $10,000 and an estimated life of 4 years or 12,000 hours. It is to be depreciated by the diminishing value method with a constant depreciation rate of 37.5% p.a. What is the amount of depreciation expense for the first full year, during which the equipment was used 3,300 hours? a. $60,000. b. $80,000. c. $56,250. d. $55,500.

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Description: Equipment with a cost of $160,000 has an estimated residual value of $10,000 and anestimated life of 4 years or 12,000 hours. It is to be depreciated by the diminishing valuemethod with a constant depreciation rate of 37.5% p.a. What is the amount o

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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