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Calculate the depreciation expense for each of the years

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Question - Sheffield Corp. purchased a boardroom table for $16,000. The company planned to keep it for four years, after which it was expected to be sold for $1,000.

Calculate the depreciation expense for each of the first three years under the straight-line method and the double-diminishing-balance method, assuming the table was purchased early in the first month of the first year.

(1) Straight-line method.

(2) Double-diminishing-balance method.

Reference no: EM132917997

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