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Assuming that the companys accounting year ends on december

Question - A company purchases equipment for $30,000 on July 1, 2014. It estimates that the equipment will have a salvage value of $2,000 and its useful life will be 7 years. Assuming that the company's accounting year ends on December 31 of each year, what will be the Depreciation Expense for the years 2014 and 2015 assuming straight-line depreciation?

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Accounting Basics: Assuming that the companys accounting year ends on december

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