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Calculate the depreciation schedule for the four years

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Question - GM purchased $50 million of equipment that has an expected useful life of 4 years and no salvage value. If GM uses the straight line depreciation method:

a) Calculate the depreciation schedule for the 4 years.

b) What value was reported on the Statement of Financial Position at the end of year 3?

c) Assuming, in this case, that GM uses the declining balance method with a depreciation rate of 40%. Calculate the depreciation schedule for the 4 years.

Reference no: EM133053005

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