Martin Motors purchased a machine that will help diagnose problems with engines. The machine cost $210,000 on January 10, 2010 and a residual value of $10,000 was anticipated, with a useful life of 5 years. These statistics are available:
Martin Motors realized at the beginning of 2012 that the machine would last an additional 8 years. Martin Motors uses the DDB method.
Prepare the appropriate journal entry to record the depreciation expense for 2012.

Question

Martin Motors purchased a machine that will help diagnose problems with engines. The machine cost $210,000 on January 10, 2010 and a residual value of $10,000 was anticipated, with a useful life of 5 years. These statistics are available:
  Martin Motors realized at the beginning of 2012 that the machine would last an additional 8 years. Martin Motors uses the DDB method.
Prepare the appropriate journal entry to record the depreciation expense for 2012.

Quizplus · Accepted Answer

The Answer of Martin Motors purchased a machine that will help diagnose problems with engines. The machine cost $210,000 on January 10, 2010 and a residual value of $10,000 was anticipated, with a useful life of 5 years. These statistics are available:
  Martin Motors realized at the beginning of 2012 that the machine would last an additional 8 years. Martin Motors uses the DDB method.
Prepare the appropriate journal entry to record the depreciation expense for 2012.

Martin Motors Purchased a Machine That Will Help Diagnose Problems