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Double declining method of depreciation is being used.(a) Compute the Book value of Machine as of July1,2011.
Solution:
Cost---------------------------------------------------------------------------------------------------- 60,000.00
Less Accumulated depreciations:
Depreciation for2008 (60,000x331/3%) ---------------------------------20,000
Depreciation for2009 (60,000-20,000) x331/3%) -------------------13,333
Depreciation for2000 (60,000-33,333.) x331/3% ---------- -----------8,889
Depreciation for first half of2010 (60,000-42,222)x331/3%x1/2----2,963
TOTAL ----------------------------------------------------------------------45,185
Book Value ----------------------------------------------------------------------------------------14,815
Book vale after three and half year will be23305 as per double declining method of depreciation at the rate of32%.
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