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OleMash [197]
3 years ago
7

Swifty Corporation purchased a machine for $66000 on July 1, 2020. The company intends to depreciate it over 8 years using the d

ouble-declining balance method. Salvage value is $5100. Depreciation for 2020 to the closest dollar is
Business
1 answer:
Lostsunrise [7]3 years ago
3 0

Answer:

Depreciation expense= $7,612.5

Explanation:

Giving the following information:

Purchase price= $66,000

Salvage value= $5,100

Useful life= 8 years

<u>First, we need to determine the depreciation expense for the whole year. We will use the following formula:</u>

<u></u>

Annual depreciation= 2*[(book value)/estimated life (years)]

Annual depreciation= 2*[(66,000 - 5,100) / 8]

Annual depreciation= $15,225

<u>For 2020:</u>

Depreciation expense= (15,225/12)*6= $7,612.5

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3 years ago
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Readme [11.4K]

Answer:

1-True

2-False

3-True

4-False

5-True

6-True

Explanation:

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7 0
3 years ago
A manufacturer of washing machines has expanded its plant and has created excess capacity, just as the general economy has taken
Lostsunrise [7]

Answer:

. b. offer rebates and incentives for customers who purchase washing machines.

Explanation:

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