1. On July 1, 2016, American Stereo purchased stereo equipment for $5,000. 
2. The estimated useful life of the equipment was ten years and the salvage value was estimated at $2,000.
3. Double declining balance depreciation was used. 

If the calculations are based on the nearest full month, what was the depreciation expense for the year 2018 ?

Answer rating: 100% (QA)

To calculate the depreciation expense for the year 2018 using the double declining balance method we need to determine the annual depreciation rate an... View the full answer