Exercise 9-15 Alternative depreciation methods On April 1, 2023, Ice Drilling Co. purchased a trencher for $155,000. The machine was expected to last five years and have a residual value of $15,500. Required: Calculate depreciation expense for 2023 and 2024 to the nearest month, using (a) the straight-line method, and (b) the double- declining balance method. The company has a December 31 year-end. (Do not round intermediate calculations.) Double Declining Balance Year Straight Line 2023 2024

Exercise 9-15 Alternative depreciation methods On April 1, 2023, Ice Drilling Co. purchased a trencher for $155,000. The machine was expected to last five years and have a residual value of $15,500. Required: Calculate depreciation expense for 2023 and 2024 to the nearest month, using (a) the straight-line method, and (b) the double- declining balance method. The company has a December 31 year-end. (Do not round intermediate calculations.) Double Declining Balance Year Straight Line 2023 2024

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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