Using the double declining balance method

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Smith Farms purchases a combine on January 1, 2002 for $50,000. Using the double declining balance method for depreciation, a 5 year lifetime and a $5,000 salvage value, what would be the book value of the combine December, 31, 2003?

Reference no: EM13754484

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Using the double declining balance method : Smith Farms purchases a combine on January 1, 2002 for $50,000. Using the double declining balance method for depreciation, a 5 year lifetime and a $5,000 salvage value, what would be the book value of the combine December, 31, 2003?

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