Hi

I need the declining balance from 2011-2014

Dep Exp

Acc Dep

Book Value for each year

On January 1, 2011, Galaxy Sun Industries acquired a new piece of machinery and a used truck from Acme Equipment Company. Galaxy Sun negotiated a price of $108,000 for both items. The fair market value of the equipment was $112,500, and the fair market value of the truck was $37,500. Galaxy Sun Industries signed a note with Acme to make the purchase. Prepare the journal entry to record the purchase of the equipment. Use Smart Entry when selection lists are not available to enter the account title in the Description column. The machine purchased by Galaxy Sun Industries (see journal entry above) is expected to have a useful life of four years. At the end of its useful life, the salvage value of the machine is estimated to be $4,000. Galaxy Sun Industries's fiscal year ends each December 31. The company has elected to depreciate the machine using the declining balance method at two times the straight-line rate. Using the data above, calculate the depreciation rate for the machine: Depreciation Rate = X %= % 2 20 40 Complete the table below: Declining Balance Method Year Depreciation expense 2011 $ Accumulated depreciation $ 45000 2012 $ $ $ $ $ $ 40500 $ 6944 $ 29406.25 112500 17360 29406.25 2014 $ 67500 27000 2013 Book value 2777.6 58156