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Calculate amortization expense for accounting records

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Reference no: EM132907012

Question - There are differences between accounting and tax depreciation.

1. Describe the similarities and differences between the procedures used to calculate amortization expense for accounting records and those procedures used to establish the amount of CCA to be deducted in tax returns.

2. A brand new $45,000 vehicle with useful life of 6 years and salvage value 0. Explain this reasoning.

Reference no: EM132907012

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