Problemin january 2011 rogers co purchased a machine that, Ask an Expert

Accounting

Problem:

In January 2011, Rogers Co. purchased a machine that cost $85,000. The equipment is estimated to have a 5-year life and a salvage value of $15,000.

Required:

Question 1: Compute the amount of depreciation expense for 2011 and 2012 using the double declining balance method.

Question 2: Compute the amount of MACRS depreciation for the above equipment for 2011 assuming the property is 5 year property and the MACRS percentage is 20%.

Note: Please provide through step by step calculations.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91164588

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