On August 2019, a company purchased an equipment for 33,000 $, which is expected to have ten useful life years and the scrap value is 5000$. Calculate the deprecation expenses in the end of 2020, 2021, 2022, and 2023 using 1- Declining balance method. 2- Double Declining method. 3- Sum of years' digits.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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On August 2019, a company purchased an equipment for 33,000 $,
which is expected to have ten useful life years and the scrap value is
5000$. Calculate the deprecation expenses in the end of 2020, 2021,
2022, and 2023 using
1- Declining balance method.
2- Double Declining method.
3- Sum of years' digits.
Transcribed Image Text:On August 2019, a company purchased an equipment for 33,000 $, which is expected to have ten useful life years and the scrap value is 5000$. Calculate the deprecation expenses in the end of 2020, 2021, 2022, and 2023 using 1- Declining balance method. 2- Double Declining method. 3- Sum of years' digits.
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