Solution-Calculate depreciation for the long-term assets

Calculate depreciation for the long-term assets

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Question - Calculate depreciation for the long-term assets that are listed below. Each asset was acquired in 2019 and the depreciation needs to be calculated for 2020. The useful life for each is 5 years and the method of depreciation to be used is straight line

Land $49,259.00

Building $437,442.00

Machinery $62,677.00

Equipment $6,355.00

Office Supplies $1,873.00

Boat #1 $31,450.00

Boat #2 $44,821.00

Boat #3 $4,200.00

Reference no: EM132749678

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Calculate depreciation for the long-term assets

Reference no: EM132749678

Reference no: EM132749678

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