A company purchased a piece of equipment for $100,000 on January 1, 2021. The equipment has an estimated useful life of 10 years and a residual value of $10,000. The company uses the double-declining balance method of depreciation. What is the depreciation expense for the equipment for the year ended December 31, 2021, and what is the carrying amount of the equipment at the end of the year?

Answer rating: 100% (QA)

The detailed answer for the above question is provided below To calculate the annual depreciation ex... View the full answer