Question
A machine which cost $300,000 is acquired on October 1, 2014. Its estimated salvage value is $30,000 and its expected life is eight years. a.
A machine which cost $300,000 is acquired on October 1, 2014. Its estimated salvage value is $30,000 and its expected life is eight years.
a. Calculate depreciation expense for 2014 and 2015 by Double-declining balance.
b. Calculate depreciation expense for 2014 and 2015 by Sum-of-the-years'-digits.
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Financial Accounting IFRS Principles
Authors: Ilse Lubbe, Goolam Modack, Shelly Herbert
5th Edition
0190746920, 978-0190746926
