Question
Razar Sharp Company purchased equipment on July 1, 2014, for $26,730. The equipment was expected to have a useful life of three years, or 4,320
Razar Sharp Company purchased equipment on July 1, 2014, for $26,730. The equipment was expected to have a useful life of three years, or 4,320 operating hours, and a The estimated value of a fixed asset at the end of its useful life.residual value of $810. The equipment was used for 800 hours during 2014, 1,500 hours in 2015, 1,300 hours in 2016, and 720 hours in 2017.
Determine the amount of depreciation expense for the years ended December 31, 2014, 2015, 2016, and 2017, by the.double-declining-balance method.
Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then round the answer for each year to the nearest whole dollar.
The Answer I am getting is
2014: $8910 (correct)
2015: $11880 (incorrect)
2016: $3960 (correct)
2017 $1170 (incorrect)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started