Question broadway ltd purchased equipment on january 1 2014, Ask an Expert

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Question: Broadway Ltd. purchased equipment on January 1, 2014, for $640,000, estimating a 5-year useful life and no residual value. In 2014 and 2015, Broadway depreciated the asset using the straight-line method. In 2016, Broadway changed to sum-of-years'-digits depreciation for this equipment. What depreciation would Broadway record for the year 2016 on this equipment?

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Accounting Basics, Accounting

Category:- Accounting Basics
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