Question

2. THE XYZ Company bought a machine for $100,000 on January 1, 2019. Use the double-declining balance to calculate depreciation for each of its 4 year useful life. Assume there will be a $2,000 salvage value at the end of its life. Prepare the entire table below for each of the 4 years: Depreciation for Period End of Period Annual Period Beg BV Deprec. Rate Deprec Exp. Accum Deprec. End BV

Answer 1

Solution:

к Year AR Depreciation Schedule - Double Declining Balance Method Depreciation for the Period End of Period Annual Accumulated End. Book Beg. book value Depreciation Rate Depreciation Depreciation Value expense $100,000 50% $50,000 50,000.00 50,000.00 $50,000 50% $25,000 75,000.00 25,000.00 $25,000 50% $12,500 87,500.00 12,500.00 $12,500 $6,250 93,750.00 6,250.00 1 21 41 50% 13 Total $93,750 16 17 18 19 20 22 23 25 26 27 31 32 34 39 40 41 42 43 44 45 46 et956 ) Sheet980 Sheet417 (2) 11 Sheet962 0 Sheet35 (13) <