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Solve depreciation expense using straight-line method

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Suppose Company A purchased a vehicle for $40,000 on January 1, 2020. Its estimated useful life is 5 years and its estimated residual value is $5,000.

Problem 1- Calculate depreciation expense using the straight-line method.

Problem 2- Record the journal entries at the end of the 5 years.

Problem 3- What is the net book value at the end of each year?

Reference no: EM132966899

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