Salt Water Taffy Co purchased pulling equipment for 40,000. The ...

[nenivikky]

Salt Water Taffy Co purchased pulling equipment for 40,000. The equipment has a useful life of 5 years and salvage value of 10,000. Using the sum of the digits method, the depreciation deduction for the first year is 10,000.  
  Indicate whether the statement is true or false

Question 2

A single trade discount that equates to all the discounts in a series or chain is known as a single equivalent discount.
  Indicate whether the statement is true or false

[kaillie]

Answer to Question 1

TRUE

Answer to Question 2

TRUE

[nenivikky]

Thanks for the timely response, appreciate it

[peter]

TYSM