Question
E9-8 (Algo) Computing and Recording Double-Declining-Balance Depreciation [LO 9-3] Mittal Companies bought a machine at the beginning of the year at a cost of $18,500.
E9-8 (Algo) Computing and Recording Double-Declining-Balance Depreciation [LO 9-3]
Mittal Companies bought a machine at the beginning of the year at a cost of $18,500. The estimated useful life was five years and the residual value was $2,000.
Required:
Complete a depreciation schedule for the double-declining-balance method.
Prepare the journal entry to record Year 2 depreciation.
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Intermediate Accounting
Authors: kieso, weygandt and warfield.
IFRS Edition
978-1118443965, 1118800532, 9781118800539, 978-0470873991
