FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Equipment $957,500
Transcribed Image Text:Equipment was
beginning of the
$957,500.
acquired at the
year at a cost of
The
equipment
was
depreciated using the straight-line
method based on an estimated useful
life of 7 years and an estimated residual
value of $46,400. What
$46,400. What was the
depreciation for the first year?
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