Business, 25.12.2019 03:31 reearamrup27
Acompany purchased factory equipment for $250,000. it is estimated that the equipment will have a $25,000 salvage value at the end of its estimated five year useful life. if the company uses the double-declining balance method of deprecation, the amount of annual depreciation recorded for the second year after purchase would be
a. $100,000b. $60,000c. $90,000d. $43,000
Answer from: alexmoy45p8yd7v
b. $60,000
Explanation:
Double declining method is double the straight line depreciation rate.
Normal straight line depreciation = 1 / useful life = 1/5 = 20%
Double declining rate = 20 * 2 = 40%
Depreciation for 1st year = 250,000 * 0.40 = $100,000
Depreciation for 2nd year = (250,000 - 100,000) * 0.40 = $60,000
Hope that helps.
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