The Strokes LLC. purchases equipment for 100,000 on 1/1/2016. Installation costs and testing costs were...
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Accounting
The Strokes LLC. purchases equipment for 100,000 on 1/1/2016. Installation costs and testing costs were 10,000 and 5,000 respectively. Using the following information, answer the next two questions.
Estimated residual value is = $25,000
Useful life is = 8 years
If the Strokes use sum of years digits method for recording depreciation, what is the depreciation expense recorded during 2017 ? Assume December 31st year-end.
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