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irina [24]
3 years ago
14

A machine is purchased on January 1, 2018, for $102,000. It is expected to have a useful life of eight years and a residual valu

e of $11,000. The company closes its books on December 31. Under the double-declining balance method, what is the total amount of depreciation to be expensed during the 2019
Business
1 answer:
allochka39001 [22]3 years ago
4 0

Answer:

Depreciation expense 2019= $17,062.5

Explanation:

Giving the following information:

Purchase price= 102,000

Useful life= 8

Salvage value= 11,000

To calculate the depreciation expense under the double-declining balance, we need to use the following formula:

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

2018= 2*[(102,000 - 11,000)/8]= $22,750

2019= 2*[(91,000 - 22,750)/8]= $17,062.5

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3 years ago
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3 years ago
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Answer:

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