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DOUBLE DECLINING BALANCE
Question 1: Now Calculate annual depreciation on this machinery using double declining balance. Be careful not to exceed the salvage value. If the salvage value is zero, switch to straight-line in the year when straight-line yields higher depreciation. (Use the remaining value as the starting point when you change.)
Tractor A
Tractor B
Combine
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
What do you understand by the term accounting date? Calculate the amount of depreciation charged in the statement of incomes for each of the five years.
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Past history says that tomorrow's demand for lettuce averages 240 boxes with a standard deviation of 36 boxes.
During the year, it made net purchases of $180,000 at cost and $322,000 at retail. Johnson Corporation made sales of $300,000.
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