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Depreciation schedule using the double declining method

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Reference no: EM132044041

The info: Your client, Burley Designs, recently acquired a new machine to build bicycle wheels for the tandems, recumbents and trailers they build.

Total machine cost after installation, calibrations and other related capitalized costs was $18,250. The machine has an expected life of 7 years with a residual value of $2000. The machine is capable of producing 20,000 wheels per year. Burley estimates that they will only ask the machine to produce as follows:

Year Anticipated Product Schedule - Wheels

1 13,500

2 14,250

3 15,000

4 16,200

5 17,000

6 18,000

7 19,100

Can you explain how I would make a depreciation schedule using the double declining method? Not sure how to calculate the depreciation value, accumulated depreciation, and book value.

Reference no: EM132044041

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