Question 13

Solar Products purchased a machine for $68,166 on July 1, 2012. The company intends to depreciate it over 4 years using the double-declining balance method. Salvage value is $3,000. Depreciation for 2012 is

Question 14

XYZ Company purchased an asset for $49,070. It cost $2,278 in freight costs to get it to their loading dock. They also had $4,190 in installation costs. Salvage value is estimated to be $10,515 and the useful life is 10 years. What is year 10 depreciation expense? (they use straight line depreciation).

Question 15

XYZ Company purchased an asset for $42,089. It cost $2,363 in freight costs to get it to their loading dock. They also had $3,358 in installation costs. Salvage value is estimated to be $10,922 and the useful life is 10 years. What is net book value at the end of year 5? (use straight-line depreciation)

Question 17

An asset has a cost of $69,851 and an estimated salvage value of $5000. If the company uses double declining balance depreciation method, and the asset is estimated to have a four year life, what is the amount of depreciation expense in year four of the asset's life?