On April 1, 2023, Ice Drilling Co. purchased a trencher for $125,000. The machine was expected to

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On April 1, 2023, Ice Drilling Co. purchased a trencher for $125,000. The machine was expected to last five years and have a residual value of $12,500.


Required
Calculate depreciation expense for 2023 and 2024 to the nearest month, using 

(a) The straight-line method, 

(b) The double-declining-balance method. The company has a December 31 year-end.

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Related Book For  book-img-for-question

Fundamental Accounting Principles Volume 2

ISBN: 9781260881332

17th Canadian Edition

Authors: Kermit D. Larson, Heidi Dieckmann, John Harris

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