Question
GMC has Equipment with an estimated life of 10 years and no expected residual value that was purchased for $60,000 on March 6, 2020. Required:
GMC has Equipment with an estimated life of 10 years and no expected residual value that was purchased for $60,000 on March 6, 2020.
Required:
Using the nearest whole month method, calculate the depreciation under the Double Declining Balance method for December 31, 2020 using the formula:
2/Estimated Useful Life x Book Value
Round to two decimal places (100.00).
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Cost Accounting And Financial Management For Construction Project Managers
Authors: Len Holm
1st Edition
1138550655, 978-1138550650
