Question

Sandblasting equipment acquired at a cost of $42,000 has an estimated residual value of $6,000 and an estimated useful life of 10 years. It was placed in service on October 1 of the current fiscal year, which ends on December 31, 2012. Determine the depreciation for 2012 and for 2013 by
(a) The straight-line method and
(b) The double-declining-balance method.



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  • CreatedFebruary 04, 2014
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