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12.31.18 depreciation for the office equipment- 32,000 "double declining method" office equipment - asset were purchased...

12.31.18 depreciation for the office equipment- 32,000 "double declining method" office equipment - asset were purchased may 1, residual value = 5,000; service life is estimated to be 5 years.

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Year Opening balance Depreciation @40% on opening balance Closing balance
1 $        32,000 $          8,533 $               23,467
2 $        23,467 $          9,387 $               14,080
3 $        14,080 $          5,632 $                 8,448
4 $          8,448 $          3,448 $                 5,000
5 $          5,000 $                 -   $                 5,000

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ekkarill92 answered 2 years ago
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