Sum of the Years Digits
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On January 1, 2000, B. Company purchased equipment at a cost of $50,000. The equipment was estimated to have a salvage value of $5,000 and it is being depreciated over eight years under the sum-of-the-years'-digits method.
What should be the charge for depreciation of this equipment for the year ended December 31, 2007?
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Solution Summary
The solution explains how to calculate the depreciation expense under sum of year digits method.
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In sum of year digits we add the digits in the useful life which is ...
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