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Calculate depreciation and journal entries under each method

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Reference no: EM132498522

Question 1: Assume that on Sept. 31, 2107 Euro air purchased a plane for 45,000,000 and expects the plane to last 4 years or 4,000,000 miles and a residual value of 6,000,000. The plane was used for 350,000 miles in 2017. Calculate depreciation and journal entries under each method of depreciation for 2017

a. Straight line Depreciation

b. Units of Production

c. Double declining Balance

Reference no: EM132498522

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