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At the beginning of the year, Phantom Industries bought machinery, shelving, and a forklift. The machinery initially cost $ 3 2 , 4 0 0
At the beginning of the year, Phantom Industries bought machinery, shelving, and a forklift. The machinery initially cost $ but had to be overhauled at a cost of $ before it could be installed at a cost of $ and finally put into use. The machinery's total life was estimated as hours, with an estimated residual value of $ The machinery was actually used hours in year and hours in year Repair costs were $ in each year.
The shelving cost $ and was expected to last years, with a residual value of $ The forklift cost $ and was expected to last six years, with a residual value of $
Compute doubledecliningbalance depreciation expense for years and for the forklift. TIP: Remember that the formula for doubledecliningbalance uses cost minus accumulated depreciation not residual value
tableYear Year Doubledecliningbalance,,
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