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At the beginning of 2010, the company purchased a machine for $510,000 (salvage value of $51,000) that had a useful life of 5 years. The bookkeeper used straight-line depreciation, but failed to deduct the salvage value in computing the depreciation base for the 3 years.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M950679

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