Declining Balance Depreciation
on July 6, 2011, Grayson Purchased New

Declining balance depreciation
On July 6, 2011, Grayson purchased new machinery with an estimated useful life of 10 years. The cost of the equipment was $80,000, with a residual value of $8,000.
Compute the depreciation on this machinery in 2011 and 2012 using each of the following methods.
$\begin{array}{|c|c|c|}\hline & 2011 & 2012 \\\hline \begin{array}{l}\text { (a) } 150 \% \text {-declining-balance, using the half-year } \\\text { convention }\end{array} & \$\underline{\quad\quad} & \$ \underline{\quad\quad}\\\hline \begin{array}{l}\text { (b) } 200 \% \text {-declining-balance, using the half-year } \\\text { convention }\end{array} & \$\underline{\quad\quad} & \$\underline{\quad\quad} \\\hline\end{array}$