FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Step 1

The depreciation shall be the same for all years under the straight-line method.

Annual depreciation under straight line method = (Cost - Salvage) / Life

Under the double-declining method, the depreciation shall be calculated by multiplying the beginning book value with the double-declining rate.

Double declining rate = 100% / life * 2

 

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