Consider the purchase of a new combine. The specific information is:
Purchase price = $750,000.00, Purchase date = Jan 1, 2020
Useful life =6 years, Salvage value = $100,000.00
Complete each depreciation table.
Note: each highlighted box is worth 1 point – for a total of 10 points possible
Fill in the table using the straight-line method
Year | Remaining value at beginning of year | Depreciation | Remaining value at end of year |
2020 | |||
2021 | |||
2022 | |||
2023 | |||
2024 | |||
2025 |
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