Business, 29.09.2019 11:10 studybug7952

An asset has a cost of $50,000 with a residual value of $10,000. it has a life of 5 years and was purchased on january 1. its fourth full year of depreciation expense under double-declining-balance will be

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Hi there

The double declining balance method of depreciation, also known as the 200% declining balance method of depreciation, is a common form of accelerated depreciation. Accelerated depreciation means that an asset will be depreciated faster than would be the case under the straight line method. Under declining balance method the residual value is not subtracted from from the cost of 50000

Now let's start to solve the question
First find the depreciation rate
100/5=20% this is the depreciation rate of straight line method

So the depreciation rate under declining balance method is double of the rate of straight line method
So it's 40%

In the first year the depreciation
50,000×0.4=20,000
book value
50,000−20,000=30,00
In the second year the depreciation
30,000×0.4=12,000
book value
30,000−12,000=18,000
in the third year the depreciation
18,000×0.4=7,200
book value
18,000−7,200=10,800
in the fourth year the depreciation is
10,800×0.4=4,320.

its fourth full year of depreciation expense under double-declining-balance will be 4320

Answer from: Quest

answer; communities of interest; i believe this is correct, plz check first good luck;

Answer from: Quest

1 all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

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An asset has a cost of $50,000 with a residual value of $10,000. it has a life of 5 years and was pu...

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