Homework Answers
Double decline rate = 100/8*2 = 25%
2023 Depreciation = X*75%*25%
30000 = X*0.1875
X = $160000
Accumulated depreciation = (160000-82700) = 77300
Depreciation per year = 77300/4 = 19325
8 Year Depreciation = 19325*8 = 154600
Residual value = 160000-154600 = 5400
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XYZ Company purchased a new piece of equipment on January 1, 2022. The following information relates...
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XYZ Company purchased a new piece of equipment on January 1, 2022. The following information relates to the equipment purchased: Purchase price .............. ? Residual value .............. ? Life ........................ 8 years Using the straight-line depreciation method, the equipment's book value at December 31, 2025 would be $82,700. Using the double-declining balance depreciation method, the depreciation expense recorded on the equipment in 2023 would be $30,000. Calculate the residual value assigned to this piece of equipment.
XYZ Company purchased a new piece of equipment on January 1, 2022. The following information relates...
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I'm not sure with my answer XYZ Company purchased a new piece of equipment on January...
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