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Compute the depreciation expense and net book value

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Reference no: EM132656250

Harrison Company purchased a piece of machinery for $100,000 on 1 July 2017. The residual value is $20,000 and the expected useful life is 8 years.

Problem 1: Compute the depreciation expense and net book value of the machinery for the years 2017, 2018 and 2019 using:

(i) Straight line method.

(ii) Double declining balance method.

Problem 2: Explain depreciation. What are the arguments for using the double declining balance method of depreciation?

Reference no: EM132656250

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