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Find how much is the book value of the machine

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Reference no: EM132781382

problem 1: Bravo Company purchased equipment on October 1, 2016. Bravo paid $60,000 for equipment and paid an additional $500 for shipping and $200 to place the equipment in service. The equipment is expected to have a $6,000 residual value and a 8-year life. Bravo has a December 31 fiscal year end. Using the double-declining balance method, how much is: (Enter only whole dollar values.)

1. the 2018 depreciation expense
2. the accumulated depreciation after the fiscal year 2018 adjusting entry
3. the book value of the machine after the fiscal year 2018 adjusting entry

Reference no: EM132781382

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