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Gates Gems bought a computer on January 1st in the amount of $5,000. It will be used by the company for 3 year and will have a salvage value of $200. What is the annual depreciation expense?
Gates Gems bought a computer on July 1st in the amount of $5,000. It will be used by the company for 3 year and will have a salvage value of $200. What is the depreciation expense that Gates Gems will record?
Karen’s Flower Shop purchased a delivery van in the amount of $12,000 on January 1st. The van has a useful life of 5 years and an estimated salvage value of $800. What is the annual depreciation expense?
Karen’s flower shop purchased a new floral cooler on August 1st in the amount of $8,900. She expects the cooler to last approximately 4 years at which time it’s value will be $1,200. What is the depreciation expense that Karen will record?
Michael’s Diner purchased new booths on January 1st for the seating area. The cost of the booths was $2,570. Michael determined that the booths wouldn’t be worth anything at the end of their useful life, which would be 5 years. What is the annual depreciation expense for the booths?
Michael’s diner purchased a delivery truck on February 1st in the amount of $10,000. The estimated useful life is 6 years and the salvage value is $500. What is the depreciation expense that Michael will record?
Ieshah’s Ice Cream Shoppe purchased a new freezer for the storeroom on October 1st for $6,500. Ieshah expects the freezer to last 5 years. The salvage value is $600. What is the depreciation expense Ieshah will record?
ABC Corporation bought a conference room table on January 1st in the amount of $2,800. It will be used by the company for 5 years and will have a salvage value of $400. What is the annual depreciation expense?
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Gates Gems bought a computer on January 1st...
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