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Calculate the depreciation expense for December

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Q1) Partial-Year Depreciation - Assume our machinery was purchased on October 8, 2014 at a cost of $10,000. The salvage value is $1000 and the useful life is 5 years. Calculate the depreciation expense for December 31, 2014 using the straight-line method.

Q2) Double-Declining balance method - Equipment cost $24,000

Useful Life 5 years

Residual value $2000

Calculate the double-declining rate to depreciate the equipment.

Reference no: EM133078444

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