Weygand, Financial Accounting, 10 txercise 9-6 (Part Level Submission) Cullumber

Question

Weygand, Financial Accounting, 10 txercise 9-6 (Part Level Submission) Cullumber Company purchased a new machine on October 1, 2019, at a cost of $110,000. The cempany estimated that the machine will have a sakage value of 10,000. The machine is expected to be used for 10,000 working hours during its 4 year lsfe 1o) Your amer is correct. Compute the depreciation expense under straight ine method for 2019.Rd answer to 0 decimal places, e.g 2,12s) Clck it you would ike to show Work for this question: Open Show Work Altempts:1 of 15 used ? (b) 8 9

Explanation / Answer

c) Double declining rate = 2/useful life

                        = 2/4

                         = .50 or 50%

2019 :cost /carrying value *rate

     = 110000*.50

      = 55000 for year or 55000*3/12 = 13750       [1oct2019-31 dec 2019]

2020:[cost-accumulated depreciation ]*rate

         [110000-13750]*.50

           48125

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