On January 1 Year 1 a firm purchases a machine f
On January 1, Year 1, a firm purchases a machine for $68,000 that has an estimated useful life of five years, at which time it will have a salvage value of $10,000.Using the double-declining balance method, Year 3 depreciation expense is closest to:
A.$27,200
B.$16,320
C.$9,792
参考解答
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2024-10-11 06:33:10
Ans:C
Double-declining balance method does not consider salvage value when calculating depreciation.So depreciation expense on:
Year 1= 2/5($68,000-0)= $27,200
Year 2= 2/5($68,000-27,200)=$16,320
Year 3= 2/5 ($68,000-27,200-16,320)=$9,792
A.$27,200 is Year 3 depreciation expense under double-declining balance method
B.$16,320 is Year 2 depreciation expense under double-declining balance method
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