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linda_us, Master's Degree
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Gear Inc. purchased equipment costing $420,000 with an estimated

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Gear Inc. purchased equipment costing $420,000 with an estimated residual value of $20,000 and a useful life of eight years on May 1, 2009. Gear Inc. is a calendar-fiscal year and computes depreciation to the nearest month (the firm does not use a convention approach to fractional depreciation).
Compute depreciation for the equipment for fiscal years 2009 and 2010 under the sum-of-years' digits (SYD) method and the double declining balance (DDB) method. Place your amounts rounded to the nearest dollar in the appropriate columns.
2009 2010
Submitted: 1 year ago.
Category: Single Problem
Expert:  linda_us replied 1 year ago.
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