Depreciation: Declining Balance Video Lessons

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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 amount of  depreciation expense recorded on the machine in  2005 assuming the company uses the double declining balance depreciation method.

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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 amount of  depreciation expense recorded on the machine in  2005 assuming the company uses the double declining balance depreciation method.

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