The Marc Corporation purchased factory equipment that was installed and put into service on January 2, 2013, at a total cost of $48,000. Residual value was estimated at $3,000. The equipment is being amortized over four years using the double-declining balance method. Calculate for the year 2014, the amount Marc should record amortization expense on this equipment.

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The Answer of The Marc Corporation purchased factory equipment that was installed and put into service on January 2, 2013, at a total cost of $48,000. Residual value was estimated at $3,000. The equipment is being amortized over four years using the double-declining balance method. Calculate for the year 2014, the amount Marc should record amortization expense on this equipment.

The Marc Corporation Purchased Factory Equipment That Was Installed and Put