A business purchased an asset that had a total cost of 125,000 and a residual...
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Accounting
A business purchased an asset that had a total cost of 125,000 and a residual value of 5,000. The asset is expected to service the business for a period of 5 years or produce a total of 500,000 units. The machine was purchased on January 1st of the current year and has been in service one complete year
What is the depreciation expense in year one if the double declining balance method is used
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