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Discuss the machinery using the straight-line method

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Reference no: EM131769920

Purchased machinery January 1, at a cost of $270,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $26,000. The company is considering different depreciation methods that could be used for financial reporting purposes.

Prepare separate depreciation schedules for the machinery using the straight-line method, and the declining-balance method using double the straight-line rate.

Reference no: EM131769920

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