In 2012, Ideal Time purchased equipment with a 10 year life valued at $547,000. To install and ship the equipment, it will cost $10,900 and $7,550, respectively. The equipment has a salvage value of $23,200. Using the DB method at 10% annual rate, answer the following: a. What is the depreciation in 2020? b. What is the depreciation in 2013? c. What is the book value in 2020?
In 2012, Ideal Time purchased equipment with a 10 year life valued at $547,000. To install and ship the equipment, it will cost $10,900 and $7,550, respectively. The equipment has a salvage value of $23,200. Using the DB method at 10% annual rate, answer the following: a. What is the depreciation in 2020? b. What is the depreciation in 2013? c. What is the book value in 2020?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In 2012, Ideal Time purchased equipment with a 10 year life valued at $547,000. To install and ship the equipment, it will cost $10,900 and $7,550, respectively. The equipment has a salvage value of $23,200. Using the DB method at 10% annual rate, answer the following:
a. What is the
b. What is the depreciation in 2013?
c. What is the book value in 2020?
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