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Determine the amortization expense for the first two years

Question - Equipment acquired on October 1, 2011, at a cost of $500,000 has an estimated useful life of 10years. The salvage value is estimated to be $80,000 at the end of the asset's useful life.

Determine the amortization expense for the first two years using the:

a. Straight-line method.

b. Declining-balance method at the rate of 150%

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Accounting Basics: Determine the amortization expense for the first two years

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Accounting Basics: Determine the amortization expense for the first two years

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