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Complete the depreciation expense and book value schedules

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Reference no: EM132701362

A machine which cost $500,000 is acquired on January 1, 2017. Its estimated salvage value is $50,000 and its expected life is eight years.

Problem 1: Complete the following schedules for 2017 and 2018 for each of the following methods.

A. Straight Line Depreciation

B. Sum of the Years Digits
2017: Depreciation Expense, Accumulated Depreciation, Book Value
2018: Depreciation Expense, Accumulated Depreciation, Book Value

Reference no: EM132701362

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