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What should shuttlecraft record as depreciation expense

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Reference no: EM133161232

Question - On January 1, 20x5, Shuttlecraft Corporation purchased a piece of machinery for $330,000 and paid an additional $17,000 to transport the machinery to its warehouse and $7,500 to train its employees on how to operate it. Shuttlecraft expects to use the machinery for 20 years and estimates a residual value of $12,500. Shuttlecraft uses the diminishing balance method to depreciate its capital assets at a rate of 20%. What should Shuttlecraft record as depreciation expense at December 31, 20x5?

Reference no: EM133161232

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