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DDB Depreciation and Sale of Asset
On 04/01/20 XYZ Company acquired a new Widget Machine for $800,000. The machine has a residual value of $80,000 and an estimated life of 5 years.
Required:
Problem 1) Compute the Estimated Depreciation using the DDB Method for year 2020.
Problem 2) On 07/01/21, the Machine was sold for $600,000. Record Depreciation up to date of sale and the Journal Entry for the disposition.
matteson corporation acquired 30 percent of the outstanding common stock of otoole company for 1267000. this
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