Music equipment owned by the business original purchase

Reference no: EM13604982

Music equipment owned by the business: original purchase price was 60,000, estimated useful life was 10 years, and estimated residual value was 8,900 at the end of the useful life. Depreciation is calculated on a monthly basis using the straight line method. The monthly depreciation charge is calculated as the yearly depreciation expense divided by the number of months in a year.

Reference no: EM13604982

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