Bramble Corporation purchased machinery on January 1, 2022, at a cost of $256,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $30,600. The company is considering different depreciation methods that could be used for financial reporting purposes.

(a)

Partially correct answer iconYour answer is partially correct.

Prepare separate depreciation schedules for the machinery using the straight-line method, and the declining-balance method using double the straight-line rate.

STRAIGHT-LINE DEPRECIATION
		Computation							End of Year
Years		Depreciable Cost	x	Depreciation Rate		=	Annual Depreciation Expense		Accumulated Depreciation		Book Value
2022		$enter a dollar amount		enter a Depreciation Rate in percentages	%		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
2023		enter a dollar amount		enter a Depreciation Rate in percentages	%		enter a dollar amount		enter a dollar amount		enter a dollar amount
2024		enter a dollar amount		enter a Depreciation Rate in percentages	%		enter a dollar amount		enter a dollar amount		enter a dollar amount
2025		enter a dollar amount		enter a Depreciation Rate in percentages	%		enter a dollar amount		enter a dollar amount		enter a dollar amount
							$enter a total for the Annual Depreciation Expense column in dollars

DOUBLE-DECLINING-BALANCE DEPRECIATION
		Computation							End of Year
Years		Book Value Beginning of Year		Depreciation Rate		=	Annual Depreciation Expense		Accumulated Depreciation		Book Value
2022		$enter a dollar amount		enter a Depreciation Rate in percentages	%		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
2023		enter a dollar amount		enter a Depreciation Rate in percentages	%		enter a dollar amount		enter a dollar amount		enter a dollar amount
2024		enter a dollar amount		enter a Depreciation Rate in percentages	%		enter a dollar amount		enter a dollar amount		enter a dollar amount
2025		enter a dollar amount		enter a Depreciation Rate in percentages	%		1,400	*	enter a dollar amount		enter a dollar amount
							$enter a total for the Annual Depreciation Expense column in dollars