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Prepare depreciation schedule for the equipment

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Question - On January 1, 2020 the company completed a self-constructed equipment at a cost of $100,000 (not including interest costs). Actual interest was $6,000, and avoidable interest was $3,000. The salvage value is $20,000, and the useful life is 5 years.

Required - Prepare depreciation schedule for the equipment using (1) straight-line depreciation method, and (2) double-declining balance method.

Reference no: EM133179309

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