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(b) Harrison Company purchased a piece of machinery for $100,000 on 1 July 2017. The residual value is $20,000 and the expect

Harrison Company purchased a piece of machinery for $100,000 on 1 July 2017. The residual value is $20,000 and the expected useful life is 8 years.
Compute the depreciation expense and net book value of the machinery for the years 2017, 2018, and 2019 using:
(i) Straight-line method.
(ii) Double declining balance method.

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Answer #1

Cost of Machinery Residual Value Useful life $1,00,000 $ 20,000 8 years Requirement 1: 1. Straight Line Method Depreciation (

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