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Nikitich [7]
3 years ago
8

Moped, Inc. purchased machinery at a cost of $44,000 on January 1, 2017. The expected useful life is 5 years and the asset is ex

pected to have salvage value of $4,000. Moped depreciates its assets using the double-declining balance method. What is the firm's depreciation expense for the year ended December 31, 2017?
Business
1 answer:
AysviL [449]3 years ago
3 0

Answer:

Annual depreciation= $16,000

Explanation:

Giving the following information:

Purchase price= $44,000

Useful life= 5 years

Salvage value= $4,000

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

<u></u>

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

Annual depreciation= 2*[(44,000 - 4,000) / 5]

Annual depreciation= 16,000

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Answer:

Context, culture and content

Explanation:

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lidiya [134]
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3 years ago
Beresford Inc. purchased several investment securities during 2015, its first year of operations. The following information pert
Minchanka [31]

Answer:

$637,000

Explanation:

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