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10) Hi-Crest Company purchased a machine on January 1, 2019, for $300,000. The machine has an estimated useful life of 5 years and a $10,000
10) Hi-Crest Company purchased a machine on January 1, 2019, for $300,000. The machine has an estimated useful life of 5 years and a $10,000 residual value. Calculate depreciation expense and the year-end book value for 2019 and 2020 using the double declining-balance method of depreciation.
Answer:
Date | Depreciation Expense (for the year) | Book Value (at the end of the year) |
12/31/2019 | ||
12/31/2020 |
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