Rosa Parks Manufacturing acquired equipment at the beginning of the year at a cost of $845,000. The equipment was depreciated using the straight-line method based on an estimated useful life of 8 years and an estimated residual value of $39,000. What was the depreciation for the first year?

Rosa Parks Manufacturing acquired equipment at the beginning of the year at a cost of $845,000. The equipment was depreciated using the straight-line method based on an estimated useful life of 8 years and an estimated residual value of $39,000. What was the depreciation for the first year?

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter18: Accounting For Long-term Assets

Section: Chapter Questions

Problem 6CE

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