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Home Q & A Board Other Fields Homework Help Business Accounting
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Harrison Harrison
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6 years ago
Seasons Limited paid $135,000 to purchase equipment at the beginning of 2012. Seasons Limited estimated the useful life of the equipment to be 4 years or 200,000 units. The equipment will be considered fully amortized when the balance in the Accumulated Depreciation account reaches $120,000. The equipment produced 52,000 units in 2015.

Required:
a.   Determine the estimated residual value of the equipment.
b.   What is the amortizable cost of the equipment?
c.   Calculate depreciation expense for 2015 under each of the following methods:
   i.   straight-line
   ii.   units-of-production
   iii.   double-declining-balance
Textbook 
Financial Accounting, Canadian Edition

Financial Accounting, Canadian Edition


Edition: 5th
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msayed2004msayed2004
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6 years ago
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Harrison Author
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6 years ago
Thank you, thank you, thank you!
tcat
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Yesterday
Good timing, thanks!
Brownr40
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2 hours ago
Helped a lot
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