Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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On January 1, 2018 a machine has a remaining book value of 6500 the residual value of the machine is 1300. The company uses the double declining balance method of depreciation . If 2019 is the last year for depreciation what is the depreciation expense for the year ending in December 31 2019?
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Step 1
The double decline method state that depreciation for the last year should not be less or more than the residual value.
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