Machinery is purchased on 15 May 2009 for $50,000 with a $5,000 salvage value and a five year life. The half year convention is followed. What method of depreciation will give the highest amount of depreciation expense in year 2?

Question

Quizplus · Accepted Answer

The double declining balance method accelerates depreciation, resulting in higher depreciation expenses in the earlier years compared to other methods.

Machinery Is Purchased on 15 May 2009 for $50,000 with a $5,000