Canliss Mining uses the retirement method to determine depreciation on its office equipment. During 2019, its first year of operations, office equipment was purchased at a cost of $14,000. Useful life of the equipment averages four years and no salvage value is anticipated. In 2021, equipment costing $5,000 was sold for $600 and replaced with new equipment costing $6,000. Canliss would record 2021 depreciation of:
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Canliss Mining uses the retirement method to determine depreciation on its office equipment. During...
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