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Step 1: FastForward purchased equipment on Dec 1 for $26,000. It has an estimated useful live of 5 years. The equipment is expected to be worth about $8,000 at the end of five years. They purchased the
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4 votes
Step 1: FastForward purchased equipment on Dec 1 for

$26,000.
It has an estimated useful live of 5 years.
The equipment is expected to be worth about $8,000
at the end of five years.
They purchased the equipment on Dec. 1 but it is now
Dec. 31.
134:44

User Ken Zira
by
5.3k points

1 Answer

4 votes

Explanation: you get 30 day old equipment.

User Pagliuca
by
5.8k points
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