An equipment is acquired on March 1, 2018 at a cost of $400,000 with an estimated useful life of eight years and an estimated salvage value of $80,000. Compute the depreciation expense and book value for the first three years at the end of December in each year using double declining balance method

What is the annual depreciation expense in the 1^st year and eight year using straight line method

Ans :

Follow the format as indicated :

Year	Book value	Depreciation percent	Depreciation expense	Accumulated Depreciatoon	Bookvalue

Answer rating: 100% (QA)

Year Book value Depreciation percent Depreciation expense Accumulated Depreciatoon Bookvalue 1st Year 400000 25 100000 100000 300000 2nd Year 300000 2... View the full answer