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    Straight-line vs. double declining balance method

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    This is an exercise I am practicing and I need someone to correct it for me and tell me where I stand.

    Thank you.

    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?

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    https://brainmass.com/economics/microeconomics/straight-line-vs-double-declining-balance-method-41186

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    The following solution helps with a problem about accounting principles.

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