Crane Company purchased a machine on July 1, 2017, for $900000. The machine has an estimated...
Crane Company purchased a machine on July 1, 2017, for $900000.
The machine has an estimated useful life of five years and a
salvage value of $190000. The machine is being depreciated from the
date of acquisition by the 150% declining-balance method. For the
year ended December 31, 2017, Crane should record depreciation
expense on this machine of
| $270000. |
| $180000. |
| $135000. |
| $106500. |
Homework Answers
Answer: $135000.
Depreciation Expense = Cost x 150% x 1/life of asset
For Crane Company = 900000 x 150% x 1/5 = 270000 annually
Till Dec 31 = 270000 / 2 = 135000
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