Depreciation: Declining Balance Video Lessons

Video Thumbnail

Concept

Problem: XYZ Company purchased a new machine on January 1, 2002 for $80,000. The machine was assigned a 5-year life and a $12,000 residual value. Calculate the book value of the machine at December 31, 2004  assuming the company uses the double declining balance  depreciation method.

FREE Expert Solution
Problem Details

XYZ Company purchased a new machine on January 1, 2002 for $80,000. The machine was assigned a 5-year life and a $12,000 residual value.

Calculate the book value of the machine at December 31, 2004  assuming the company uses the double declining balance  depreciation method.

Frequently Asked Questions

What scientific concept do you need to know in order to solve this problem?

Our tutors have indicated that to solve this problem you will need to apply the Depreciation: Declining Balance concept. You can view video lessons to learn Depreciation: Declining Balance. Or if you need more Depreciation: Declining Balance practice, you can also practice Depreciation: Declining Balance practice problems.

What is the difficulty of this problem?

Our tutors rated the difficulty ofXYZ Company purchased a new machine on January 1, 2002 for $...as medium difficulty.