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There are 5 years on the chart btw i left out the bottom row on the picture Khan Manufacturing bought a machine at the beginning
There are 5 years on the chart btw i left out the bottom row on the picture
Khan Manufacturing bought a machine at the beginning of the year at a cost of $19,000. The estimated useful life was five years and the residual value was $2,000. Required: 1. Complete a depreciation schedule for the double-declining-balance method. 2. Prepare the journal entry to record Year 2 depreciation. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete a depreciation schedule for the double-declining-balance method. (Do not round intermediate calculations. Round final answers to the nearest whole dollars.) Year At acquisition 2 3 Income Statement Depreciation Expense Cost $ 19.000 $ 19,000 15 19 000 19000 1 Belance Sheet Accumulated Depreciation Book Value 5 19.000 Khan Manufacturing bought a machine at the beginning of the year at a cost of $19,000. The estimated useful life was five years and the residual value was $2,000. Required: 1. Complete a depreciation schedule for the double-declining-balance method. 2. Prepare the journal entry to record Year 2 depreciation. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry to record Year 2 depreciation. If no entry frequired for a transaction/event, select "No Journal Entry Required in the first account field.) No A Transaction 1 General Journal Depreciation Expense Accumulated Depreciation Equipment Required 1 Debit Credit Step by Step Solution
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