Question: August Co., whose accounting period ends on December 31, purchased a machine for $6,600 on January 1 with an estimated residual value of $750 and

August Co., whose accounting period ends on December 31, purchased a machine for $6,600 on January 1 with an estimated residual value of $750 and an estimated useful life of 10 years. Prepare depreciation schedules for the current as well as the following year using

(a) Straight-line,

(b) Double declining-balance at twice the straight-line rate methods.

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