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Compute depreciation expense and accumulated depreciation

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Question - Smart Enterprise bought a machine costing $40,000 on 1 January 2015. The machine has a useful life of 4 years. The supplier which sold the machine had agreed to take back the machine for $4,000 at the end of the useful life. The company ?scal year-end is 31 December.

Compute the depreciation expense, accumulated depreciation and net book value of the machine for the years 2015, 2016, 2017 and 2018 using:

(1) The straight-line method

(2) The double-declining balance method.

Reference no: EM132539971

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