Das Gym purchased new equipment for $ 175,000. It is estimated that the equipment will have a $ 15,000 residual value at the end of its 5-year useful service life. The double diminishing-balance method of depreciation will be used.
Instructions
Prepare a depreciation schedule which shows the annual depreciation expense on the equipment for its 5-year life.

Question

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The Answer of Das Gym purchased new equipment for $ 175,000. It is estimated that the equipment will have a $ 15,000 residual value at the end of its 5-year useful service life. The double diminishing-balance method of depreciation will be used.
Instructions
Prepare a depreciation schedule which shows the annual depreciation expense on the equipment for its 5-year life.

Das Gym Purchased New Equipment for $ 175,000