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Required Answer in Canadian Format. Rudolph Company purchased machinery on July 5th, 2022. Assume this machinery was the company's only capital asset and that the
Required Answer in Canadian Format.
Rudolph Company purchased machinery on July 5th, 2022. Assume this machinery was the company's only capital asset and that the company uses the half year rule to calculate depreciation expense. The following information is available. The machinery was used for 20,000 hours in 2022 and 50,000 hours in 2023 Required: 1. Calculate the depreciation for 2022 under each of the following methods: a. Usage b. Straight-line c. Double-declining balance 2. Calculate the depreciation for 2023 under each of the following methods: a. Usage b. Straight-line c. Double-declining balance 3. If the company used Double-declining balance what would be the net book value of the asset at the end of the year 2023Step by Step Solution
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