On January 1, 2021, Chiny Co. purchased a new conveyor belt for $677,000. The estimated salvage value of this new equipment is $20,000 and its estimated useful like is 12 years or 2,000,000 units transported. The new belt transported 100,000 units in 2021 and 160,000 units in 2022.

 Assuming another 184,000 units are transported in 2023, what will Chinny Co. report as depreciation expense if it in 2023 uses the double declining balance method?

Answer rating: 100% (QA)

To calculate the depreciation expense using the double declining balance method we need to determine ... View the full answer