Determine the amount of equipment accumulated depreciation

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Reference no: EM13144127

On January 2, 2006, Hagen Corporation purchased equipment costing $ 72,000. Hagen performs adjusting entries monthly.

a. Record this equipment’s depreciation expense on December 31, 2011, assuming its estimated life was eight years on January 2, 2006.

b. Determine the amount of the equipment’s accumulated depreciation reported in the balance sheet dated December 31, 2011.

Reference no: EM13144127

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