China Dragon purchased new restaurant equipment on September 1, 2024, for $12,000. Residual value at the end of an estimate five-year service life is expected to be $1,900. Calculate the depreciation expense using the straight-line method for 2024 and 2025 assuming a December 31 year - end. (Do not round your intermediate calculations. Round your final answers to the nearest whole dollar.)

China Dragon purchased new restaurant equipment on September 1, 2024, for $12,000. Residual value at the end of an estimate five-year service life is expected to be $1,900. Calculate the depreciation expense using the straight-line method for 2024 and 2025 assuming a December 31 year - end. (Do not round your intermediate calculations. Round your final answers to the nearest whole dollar.)

Name: China Dragon purchased new restaurant equipment on September 1, 2024,
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Description: China Dragon purchased new restaurant equipment on September 1, 2024, for $12,000. Residual value at the end of an estimate five-year service life is expected to be $1,900. Calculate the depreciationexpense using the straight-line method for 2024 an

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 11PA: Montezuma Inc. purchases a delivery truck for $15,000. The truck has a salvage value of $3,000 and...

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