Hi-Crest Company Purchased a Machine on January 1, 2016, for $300,000

question 21

Essay

Hi-Crest Company purchased a machine on January 1, 2016, for $300,000. The machine has an estimated useful life of 5 years and a $10,000 residual value.
Required:
Calculate depreciation expense and the year-end book value for 2016 and 2017 using the double declining-balance method of depreciation.

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