This is an exercise I am practicing and I need someone to correct it for me and tell me where I stand.
Questions (also attached)
1. RichCo purchased machinery on 1/1/05 at a cost of $243,000. The estimated useful life is 5 years. The estimated salvage value is $12,000.
a. Using the straight-line method, depreciation expense will be?
b. Using the double declining balance method, depreciation expense will be?© BrainMass Inc. brainmass.com October 9, 2019, 4:47 pm ad1c9bdddf
The following solution helps with a problem about accounting principles.