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(Solution Download) Exercise 11-1 Deluxe Ezra Company purchases equipment on January 1, Year 1, at a cost of $501,830. T


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercise 11-1

 

Deluxe Ezra Company purchases equipment on January 1, Year 1, at a

 

cost of $501,830. The asset is expected to have a service life of

 

12 years and a salvage value of $42,800.

 

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Compute the amount of depreciation for Years 1 through 3 using

 

the straight-line depreciation method. (Round answer to

 

0 decimal places, e.g. $45,892.)

 

 

 

 

 

 

 

 

 

Straight-line method depreciation

 

$

 

 

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Compute the amount of depreciation for each of Years 1 through

 

3 using the sum-of-the-years'-digits method. (Round

 

answers to 0 decimal places, e.g. $45,892.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation for Year 1

 

$

 

Depreciation for Year 2

 

$

 

Depreciation for Year 3

 

$

 

 

{C}

 

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Compute the amount of depreciation for each of Years 1 through

 

3 using the double-declining-balance method. (Round

 

depreciation rate to 2 decimal places, e.g. 15.84%. Round answers

 

to 0 decimal places, e.g. 45,892.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation for Year 1

 

$

 

Depreciation for Year 2

 

$

 

Depreciation for Year 3

 

$

 

 

 

 

 


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