On April 30, 2014, Tilton Products purchased machinery for $88,000. The useful life of this...
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Accounting
On April 30, 2014, Tilton Products purchased machinery for $88,000. The useful life of this machinery is estimated at 8 years, with an $8,000 residual value.
Assume that in its dinancial statement, Tilton Products uses the 150%-declining balance method and the half-year convention. Deprecistion expense in 2014 and 2015 will be:
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