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Intermediate Accounting: Reporting...
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Intermediate Accounting: Reporting...
Buffalo, Inc., uses composite depreciation for its assets. Buffalo owns a car with a cost of $25,000, a residual value of $1,500, and a useful life of 5 years; as well as equipment with a cost of $7,500, a residual value of $750, and a useful life of 10 years. Based on this information, calculate Buffalo’s composite depreciation rate.
Ascertain the composite depreciation rate of Company B.
Depreciation: Depreciation is a method of reducing the capitalized cost of long-lived operating assets or plant assets for the period the asset is used.
Ascertain the composite depreciation rate of Company B as follows:
Calculate the depreciation rate as follows:
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