Muggsy bogues company purchased equipment for 274625 on, Ask an Expert

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Muggsy Bogues Company purchased equipment for $274,625 on October 1, 2014. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $24,000. Estimated production is 40,100 units and estimated working hours are 19,000. During 2014, Bogues uses the equipment for 520 hours and the equipment produces 1,000 units.

Compute depreciation expense under each of the following methods. Bogues is on a calendar-year basis ending December 31.

a. sum-of-the-years'-digits method for 2016

b. double-declining-balance method for 2015

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91967276

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