Brief Exercise 11-4 Larkspur Company purchased machinery on January 1, 2017, for

Question

Brief Exercise 11-4 Larkspur Company purchased machinery on January 1, 2017, for $93,600. The machinery is estimated to have a salvage value of $9,360 after a useful life of 8 years. Compute 2017 depreciation expense using the double-declining-balance methood Depreciation expense s LINK TO TEXT Compute 2017 depreciation expense using the double-declining-balance method, assuming the machinery was purchased on October 1, 2017. (Round answer to 0 decimal places, e.g. 5,125.) Depreciation expense Click if you would like to Show Work for this question: Open Show Works

Explanation / Answer

Depreciation rate = 1/8*2 0.25 Depreciation expense   93600*25% 23400 Depreciation expense if purchased on Oct 1,2017 depreciation expense   93600*25%*3/12 5850

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