Carleton Corporation purchased machinery on October 1, 2013, 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 2013 and 2014, 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 2013 and 2014.
Double-declining-balance

Question

Carleton Corporation purchased machinery on October 1, 2013, 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 2013 and 2014, 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 2013 and 2014.
  Double-declining-balance

Quizplus · Accepted Answer

The Answer of Carleton Corporation purchased machinery on October 1, 2013, 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 2013 and 2014, 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 2013 and 2014.
  Double-declining-balance

Carleton Corporation Purchased Machinery on October 1, 2013, at a Total