Computer equipment was acquired at the beginning of the year at a cost of $63,000 that has an estimated residual value of $3,000 and an estimated useful life of five years. Determine the
(a) depreciable cost
(b) double-declining-balance rate, and
(c) double-declining-balance depreciation for the first year.

Question

Computer equipment was acquired at the beginning of the year at a cost of $63,000 that has an estimated residual value of $3,000 and an estimated useful life of five years. Determine the 
(a) depreciable cost 
(b) double-declining-balance rate, and 
(c) double-declining-balance depreciation for the first year.

Quizplus · Accepted Answer

The Answer of Computer equipment was acquired at the beginning of the year at a cost of $63,000 that has an estimated residual value of $3,000 and an estimated useful life of five years. Determine the 
(a) depreciable cost 
(b) double-declining-balance rate, and 
(c) double-declining-balance depreciation for the first year.

Computer Equipment Was Acquired at the Beginning of the Year