Get expert advice and community support for all your questions on IDNLearn.com. Discover detailed and accurate answers to your questions from our knowledgeable and dedicated community members.

pebble beach company buys a piece of equipment for $24,000. the equipment has a useful life of ten years. no residual value is expected at the end of the useful life. using the double-declining-balance method, what is the company's depreciation expense in the first year of the equipment's useful life?

Sagot :

If the equipment has a useful life of ten years. no residual value is expected at the end of the useful life. using the double-declining-balance method, The company's depreciation expense in the first year of the equipment's useful life is: $4800.

How to determine the depreciation expenses?

Using this formula to find or determine the depreciation expenses

Depreciation expense = (Cost − Accumulated depreciation) × (2 ÷ Useful life)

Where:

Cost = $24,000

Accumulated depreciation = $0

Useful life = 10 years

Let plug in the formula

Depreciation expense = ($24,000 − $0) × 2 / 10

Depreciation expense =  $24,000 × 2 / 10

Depreciation expense = $48,000 /10

Depreciation expense = $4,800

Therefore we can conclude that the Depreciation expense  is the amount of $4,800.

Learn more about Depreciation expense  here: https://brainly.com/question/25785586

#SPJ1

Your presence in our community is highly appreciated. Keep sharing your insights and solutions. Together, we can build a rich and valuable knowledge resource for everyone. Your questions are important to us at IDNLearn.com. Thanks for stopping by, and come back for more reliable solutions.