Bravo company purchased equipment on October 1, 2016. Bravo paid $60,000
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 an 8-year life. Bravo has a December 31 fiscal year end. Using the double-declining balance method, how much is:
-the 2018 depreciation expense?
-the accumulate depreciation after the fiscal year 2018 adjusting entry?
-the book value of the truck after the fiscal year 2018 adjusting entry?