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attashe74 [19]
2 years ago
7

Tidy Limited purchased a new van on January 1, 2018. The van cost $36,000. It has an estimated life of six years and the estimat

ed residual value is $3,600. Tidy uses the double-declining-balance method to compute depreciation. What is the adjusted balance in the Accumulated Depreciation account at the end of 2019
Business
1 answer:
dezoksy [38]2 years ago
8 0

Answer:

$18,002.88

Explanation:

Depreciation Expense = 2 × SLDP × BVSLDP

Where,

SLDP = 100 ÷ Number of useful life

Therefore,

SLDP =  100 ÷ 6

         = 16.67 %

2018

Depreciation Expense = 2 × 16.67 % × ($36,000 - $3,600)

                                      = $10,802.16

2019

Depreciation Expense = 2 × 16.67 % × ($36,000 - $3,600 - $10,802.16)

                                      = $7,200.72

Accumulated Depreciation at the end of 2019 :

Accumulated Depreciation = $10,802.16 +  $7,200.72

                                             = $18,002.88

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