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Equipment acquired at the beginning of the year at a cost


Question - Double-Declining-Balance Depreciation

Equipment acquired at the beginning of the year at a cost of $87,600 has an estimated residual value of $7,000 and an estimated useful life of eight years. Determine the following.

(a) The double-declining-balance rate

(b) The double-declining-balance depreciation for the first year

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Accounting Basics: Equipment acquired at the beginning of the year at a cost
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