On September 30,2014,Sabena Industries acquired and placed in service a machine that cost $850,000.It was estimated that the machine has a service life of five years and a residual value of $69,400.
Using the double-declining-balance method of depreciation,prepare a schedule showing the depreciation amounts for the years 2014 through 2019 (use the nearest whole month method and round answers to the nearest dollar).Sabena closes its books on December 31 of every year.

Question

Quizplus · Accepted Answer

The Answer of On September 30,2014,Sabena Industries acquired and placed in service a machine that cost $850,000.It was estimated that the machine has a service life of five years and a residual value of $69,400.
Using the double-declining-balance method of depreciation,prepare a schedule showing the depreciation amounts for the years 2014 through 2019 (use the nearest whole month method and round answers to the nearest dollar).Sabena closes its books on December 31 of every year.

On September 30,2014,Sabena Industries Acquired and Placed in Service a Machine