Double-Declining-Balance Depreciation A building acquired at the beginning of the year at a cost of $66,800 has an estim...
Double-Declining-Balance Depreciation
A building acquired at the beginning of the year at a cost of $66,800 has an estimated residual value of $4,700 and an estimated useful life of four years. Determine the following.
| (a) | The double-declining-balance rate | % | |
| (b) | The double-declining-balance depreciation for the first year | $ |
Homework Answers
A) Double declining rate = 200/useful life
= 200/4
= 50%
B) Depreciation for first year
= 66,800*50%
= 33,400
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