Question
Waterway Industries purchased factory equipment that was installed and put into service January 2, 2020, at a total cost of $165000. Salvage value was estimated
Waterway Industries purchased factory equipment that was installed and put into service January 2, 2020, at a total cost of $165000. Salvage value was estimated at $10000. The equipment is being depreciated over four years using the double-declining balance method. For the year 2021, Waterway should record depreciation expense on this equipment of
| $77500. |
| $38750. |
| $41250. |
| $82500. |
On January 1, 2020, Bramble Corp. purchased a new machine for $4180000. The new machine has an estimated useful life of nine years and the salvage value was estimated to be $148000. Depreciation was computed using the sum-of-the-years'-digits method. What amount should be shown in Bramble's balance sheet at December 31, 2021, net of accumulated depreciation, for this machine?
| $3373600 |
| $2656800 |
| $4032000 |
| $2567200 |
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