Compute depreciation expense for the years 2010 and 2011, Ask an Expert

Accounting

Albany Corp acquired a machine on July 1, 2010 at a cost of 32,000. The machine has an estimated salvage value of $2,000 at the end of its four-year life. Albany has a December 31 year end.

Compute depreciation expense for the years 2010 and 2011 and show the book value of the machine on December 31, 2011 using each method below:

(i) straight line depreciation

(ii) sum of the years digits method

(iii) double declining balance method

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9437543

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