Carleton Corporation purchased machinery on October 1,2016,at a total cost of $98,000.Estimated residual value is $8,000,estimated life of the machinery is 6 years or 50,000 hours.During 2016 and 2017,the machinery was used 1,400 and 8,760 hours,respectively.
Compute depreciation under straight-line,units-of-production,and double-declining-balance methods for 2016 and 2017.
Double-declining-balance

Question

Carleton Corporation purchased machinery on October 1,2016,at a total cost of $98,000.Estimated residual value is $8,000,estimated life of the machinery is 6 years or 50,000 hours.During 2016 and 2017,the machinery was used 1,400 and 8,760 hours,respectively.
Compute depreciation under straight-line,units-of-production,and double-declining-balance methods for 2016 and 2017.
  Double-declining-balance

Quizplus · Accepted Answer

The Answer of Carleton Corporation purchased machinery on October 1,2016,at a total cost of $98,000.Estimated residual value is $8,000,estimated life of the machinery is 6 years or 50,000 hours.During 2016 and 2017,the machinery was used 1,400 and 8,760 hours,respectively.
Compute depreciation under straight-line,units-of-production,and double-declining-balance methods for 2016 and 2017.
  Double-declining-balance

Carleton Corporation Purchased Machinery on October 1,2016,at a Total Cost