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Compute depreciation expense for the first three years

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OS 10-3 Straight line depreciation P1 On January 1, the Matthews Band pays for sound equipment. The band estimates it will use this equipment for four years and perform 200 concerts. It estimates that after four years it can sell the equip ment for $2,000. During the first year, the band performs 45 concerts. Compute the first-year depreciation using the straight-line method. QS 10-4 Units-of-production depreciation

  • P1 On January 1, the Matthews Band pays for sound equipment. The band estimates it will use this equipment for four years and perform 200 concerts. It estimates that after four years it can sell the equip ment for $2,000. During the first year, the band performs 45 concerts. Compute the first-year depreciation using the units-of-production method. As 10-5 bouble-declining balance method P1 A building is acquired on January 1 at a cost with an estimated useful life of eight year and salvage value of $75,000.

Problem 1: Compute depreciation expense for the first three years using the double declining-balance method.

Reference no: EM132807884

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