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Calculating amount of depreciation expense for years ended

Response to the following problem:

Knife Edge Company purchased tool sharpening equipment on July 1, 2010, for $16,200. The equipment was expected to have a useful life of three years and a residual value of $900.

Instructions

Determine the amount of depreciation expense for the years ended December 31, 2010, 2011, 2012, and 2013, by

(a) the straight-line method and

(b) the doubledeclining-balance method

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Accounting Basics: Calculating amount of depreciation expense for years ended

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Accounting Basics: Calculating amount of depreciation expense for years ended

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