Depreciation expense will appear on the income statement

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Reference no: EM131943075

A company buys a fixed asset at a cost of $100,000. The asset has an estimated useful life of 5 years.

a. For the second year of the asset's life, what amount of depreciation expense will appear on the income statement? Show your work.

b. For the second year of the asset's life, what amount of accumulated depreciation will appear on the balance sheet? Show your work.

Reference no: EM131943075

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