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Unformatted text preview: Revised Annual Depreciation 30500 DoubleDecliningBalance: 2002 2003 Using the excel funcion $240,000.00 $144,000.00 B. Melton Company bought machinery on January 1, 2001 at a cost of $250,000. The machinery had an estimated life of 10 years and salvage value of $25,000. In December 2003, Melton estimates that the machinery will have a life of only 5 more years and a $30,000 salvage value. Melton uses straightline depreciation. Compute the revised annual depreciation. C. Foster Company bought equipment on July 1, 2002 at a total cost of $600,000. The equipment has an estimated useful life of 5 years and salvage value of $120,000. Foster uses the doubledecliningbalance method of depreciation. Compute depreciation for 2002 and 2003. ge value of $150,000. Total CostSalvageValue/10 75000 nits. 0.75 following formula to calculate depreciation for a period:...
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This note was uploaded on 04/04/2009 for the course ACC 321 taught by Professor Ahmedmokhtar during the Spring '09 term at Ain Shams University.
 Spring '09
 AhmedMokhtar
 Financial Accounting, Depreciation

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