On April 30, 2014, Tilton Products purchased machinery for $88,000. The useful life of this machinery is
Fantastic news! We've Found the answer you've been seeking!
Question:
On April 30, 2014, Tilton Products purchased machinery for $88,000. The useful life of this machinery is estimated at 8 years, with an $8,000 residual value.
Refer to the information above. Assume that in its financial statements, Tilton Products uses the 200%-declining-balance method and the half-year convention. Depreciation expense in 2014 and 2015 will be:
Select one:
a.$11,000 in 2014 and $22,000 in 2015.
b.$11,000 in 2014 and $19,250 in 2015.
c.$22,000 in 2014 and $12,571 in 2015.
d.$22,000 in 2014 and $7,857 in 2015.
Posted Date: