Solved: What amount should south company report as its depreciation, Accounting Basics

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What amount should south company report as its depreciation

Assessment LauncherSouth Company purchased a machine that was installed and placed in service on January 1, 2007 at a cost of $240,000.00. Salvage value of the machine was estimated at $40,000.00. The machine is being depreciated over 10 years using the double-declining method. For the year ending December 31, 2008, what amount should South Company report as its depreciation expense in its general ledger account?

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Accounting Basics: What amount should south company report as its depreciation

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