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The following information is for X Company for the year:
What was depreciation expense for the year?
Equipment, January 1 $11,250
Equipment, December 31 10,200
Cost of equipment sold 7,150
Purchase of equipment 7,249
Solution
Depreciation expense for the year = Equipment beginning + purchase  - sale of equipment -
equipment end
= 11250Â Â +7249 -7150 -10200
= $ 1,149

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The following information is for X Company for the year- What was dep (2).docx

  • 1. The following information is for X Company for the year: What was depreciation expense for the year? Equipment, January 1 $11,250 Equipment, December 31 10,200 Cost of equipment sold 7,150 Purchase of equipment 7,249 Solution Depreciation expense for the year = Equipment beginning + purchase  - sale of equipment - equipment end = 11250  +7249 -7150 -10200 = $ 1,149