Calculate the depreciation expense over the next 3 years, Accounting Basics

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Calculate the depreciation expense over the next 3 years

Problem

On January 1st, 2013 Gretzky Corp purchased $300,000 of equipment. The equipment has an expected life of 10 years and a residual value of $20,000.

Calculate the depreciation expense over the next 3 years using the following methods:

a. Straight-line
b. Sum-of-the-years digits
c. Double-declining-balance.

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Accounting Basics: Calculate the depreciation expense over the next 3 years

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Accounting Basics: Calculate the depreciation expense over the next 3 years

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