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Calculate the depreciation expense

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Problem - Stellar Corporation bought a piece of machinery that cost the company $30,000 on May 1,20X4. They feel that the equipment has an estimated useful life of 10 years or 80,000 hours of operation, with an estimated salvage value of $4,000. Stellar used the machine for 2,600 hours during the year.

Required - Calculate the depreciation expense for 20X4 and provide the journal entry, under the Double-Declining Balance method.

Reference no: EM132834362

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