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What is the depreciation expense for the period

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Question - Johnson Co purchased an equipment on 1 January 2020 at a cost of $220,000. The company estimated that the equipment will have a salvage value of $20,000. The equipment is expected to be used for 20,000 hours during its 10-year useful life. Assume Johnson adopts Declining-balance method using double the straight-line rate for the financial year ending 30 June 2020, what is the depreciation expense for the period?

Reference no: EM132569084

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