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Silverstone Technologies has the following information for the year: • Depreciation (percent of sales): 4% • Revenues: $120,000 . Gross Profit: $45,000 • PP&E: $70,000 What is the depreciation expense based on the information provided?

Silverstone Technologies has the following information for the year: • Depreciation (percent of sales): 4% • Revenues: $120,000 . Gross Profit: $45,000 • PP&E: $70,000 What is the depreciation expense based on the information provided?

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 8PA: Referring to PA7 where Kenzie Company purchased a 3-D printer for $450,000, consider how the...
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Silverstone Technologies has the following information for the year: • Depreciation (percent of sales): 4% • Revenues: $120,000 . Gross Profit: $45,000 • PP&E: $70,000 What is the depreciation expense based on the information provided?
Transcribed Image Text:Silverstone Technologies has the following information for the year: • Depreciation (percent of sales): 4% • Revenues: $120,000 . Gross Profit: $45,000 • PP&E: $70,000 What is the depreciation expense based on the information provided?
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