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Andrews [41]
3 years ago
8

A plant asset cost $160000 and is estimated to have a $16000 salvage value at the end of its 4-year useful life. The annual depr

eciation expense recorded for the third year using the double-declining-balance method would be
Business
1 answer:
vladimir1956 [14]3 years ago
8 0

Answer:

$20,000

Explanation:

For computing the depreciation expense, first we have to determine the first and second year depreciation which are shown below:

First we have to find the depreciation rate which is shown below:

= One ÷ useful life

= 1 ÷ 4

= 25%

Now the rate is double So, 50%

In year 1, the original cost is $160,000, so the depreciation is $80,000 after applying the 50% depreciation rate

And, in year 2, the $80,000 × 50% = $40,000

The 80,000 is come from = $160,000 - $80,000

And, in year 3, the $40,000 × 50% = $20,000

The 40,000 is come from = $80,000 - $40,000

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