Tidy limited purchased a new van on january 1 2016 the van, Finance Basics

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Tidy limited purchased a new van on january 1 2016 the van

Question: Tidy Limited purchased a new van on January 1, 2016. The van cost $30,000. It has an estimated life of eight years and the estimated residual value is $6,000. Tidy uses the double-declining-balance method to compute depreciation.

What is the depreciation expense for 2016?

What is the adjusted balance in the Accumulated Depreciation account at the end of 2017?

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Finance Basics: Tidy limited purchased a new van on january 1 2016 the van

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Finance Basics: Tidy limited purchased a new van on january 1 2016 the van

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