On April 13, 2014, Halifax Co. purchased machinery for $150,000. Residual value was estimated to be $6,000. The machinery will be amortized over 10 years using the double-declining balance method. If amortization is computed on the basis of the nearest full month, calculate the amount Halifax should record amortization expense for 2015 on this machinery. Halifax Co. has a December 31 year-end and adjusting entries are only made at year-end.

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The Answer of On April 13, 2014, Halifax Co. purchased machinery for $150,000. Residual value was estimated to be $6,000. The machinery will be amortized over 10 years using the double-declining balance method. If amortization is computed on the basis of the nearest full month, calculate the amount Halifax should record amortization expense for 2015 on this machinery. Halifax Co. has a December 31 year-end and adjusting entries are only made at year-end.