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Calculate the depreciation expense and book value

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Question - Martin Motors purchased a machine on January 10, 2017 that will help diagnose problems with engines. The machine cost $210,000 and a residual value of $10,000 was anticipated, with a useful life of 5 years.

1. Calculate the depreciation expense and book value as of December 31, 2017 and December 31, 2018 using both the straight-line and DDB methods.

2. Journalize the depreciation expense at Dec 31 2018 based on the DDB method only.

Reference no: EM132846340

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