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Question - Herman Apparel has purchased equipment on January 1, 2018, for $544,000. In 2018-2020, Herman depreciated the asset on a straight-line basis with an estimated useful life of eight years and an $92,000 residual value. In 2021, Herman has started to change its business strategy and now believes that the equipment will be used for only another two years (five years total) but does not believe the residual value has changed. What depreciation would Herman record for the year 2021 on this equipment?
Prepare a bank Reconciliation - A deposit of $6,310, representing receipts of June 30, had been made too late to appear on the bank statement
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On 1st July, 1962, B. Hoad paid £2,000 into his business as capital. The following transactions took place: July 3 Purchased Motor Van for £800.
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