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"Smart hardware purchase new shelving for its store on April 1,2011. The shelving is expected to have a 20 yr life and no residual value. The following expenditures were associated with the purchase.

Cost of the shelving-$12,000
Freight charges-520
Sales taxes-780
Installation of shelving-2,700
Cost to repair shell damaged during installation-400

Instructions:

a) Compute depreciation expense for the years 2011 through 2013 under each depreciation listed below:

b. Stright-line, with fractional years rounded to the nearest whole month.

c. 200 percent declining-balance, using the half-year convention

d. 150 percent declining-balance, using the half-year convention.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M942824

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