On April 29, 2013, Quality Appliances purchased equipment for $260,000. The estimated service life of...
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Accounting
On April 29, 2013, Quality Appliances purchased equipment for $260,000. The estimated service life of the equipment is six years and the estimated residual value is $20,000. Quality's financial year ends on December 31 Required: Calculate depreciation for 2013 and 2014 using each of the three methods listed. Quality calculates partial year depreciation based on the number of months the asset is in service. (Do not round intermediate arest dollar am response.) 2013 2014 1) Straight-line. (2) Sum-of-the-years' digits. (3) Double-declining balance
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