On April 30, 2017, Tilton Products purchased machinery for $88,000. The useful life of this machinery is
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Question:
On April 30, 2017, Tilton Products purchased machinery for $88,000. The useful life of this machinery is estimated at 8 years, with an $8,000 residual value.
Assume that in its financial statements, Tilton Products uses the 200%-declining-balance method and the half-year convention. Depreciation expense in 2017 and 2018 will be:
$11,000 in 2017 and $19,250 in 2018.
$22,000 in 2017 and $12,571 in 2018.
$22,000 in 2017 and $7,857 in 2018.
$11,000 in 2017 and $22,000 in 2018.
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