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On January 1st, 2020, Fiona and Co purchased equipment for $360,000. The estimated useful life...

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Accounting

On January 1st, 2020, Fiona and Co purchased equipment for $360,000. The estimated useful life of this asset was 4 years, and the residual value was $30,000. Required: Prepare a schedule showing depreciation for the life of the asset, assuming that the company used the straight-line method of depreciation. (5 points) Prepare a schedule showing depreciation for the life of the asset, assuming that the company used the double-diminishing-balance method of depreciation.

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