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please help me On July 1, 2016, Johnny Company purchased equipment for $550,000. The estimated useful life of the equipment is 10 years. It is

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On July 1, 2016, Johnny Company purchased equipment for $550,000. The estimated useful life of the equipment is 10 years. It is predicted that the equipment can be sold at the end of the 10-year period for $90,000. Johnny uses the double declining balance depreciation method, Johnny recorded depreciation normally during 2016, 2017 and 2018. However, because Johnny determined that the equipment was no longer useful to the company, Johnny sold the equipment on June 30, 2019 for $400,000 1. Based on the above Scenario, how much depreciation expense would Johnny record on Dec 31, 20172 $55,000 $99,000 $79,200 $35,200 2. Based on the above Scenario, how much depreciation expense would Johnny record on June 30, 2019 prior to the sale? $55,000 $99,000 $ 79,200 $35,200 On July 1, 2016, Johnny Company purchased equipment for $550,000. The estimated useful life of the equipment is 10 years. It is predicted that the equipment can be sold at the end of the 10-year period for $90,000. Johnny uses the double declining balance depreciation method, Johnny recorded depreciation normally during 2016, 2017 and 2018. However, because Johnny determined that the equipment was no longer useful to the company, Johnny sold the equipment on June 30, 2019 for $400,000 1. Based on the above Scenario, how much depreciation expense would Johnny record on Dec 31, 20172 $55,000 $99,000 $79,200 $35,200 2. Based on the above Scenario, how much depreciation expense would Johnny record on June 30, 2019 prior to the sale? $55,000 $99,000 $ 79,200 $35,200

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