Machinery is purchased on May 15, 2009 for $55,000 with a $5,000 salvage value a

Question

Machinery is purchased on May 15, 2009 for $55,000 with a $5,000 salvage value and a five year life. The half year convention is followed. What method of depreciation will give the highest amount of depreciation expense in year 2? Amount cannot be determined Double declining balance 150% declining balance Straight line

Amount cannot be determined Double declining balance 150% declining balance Straight line

Machinery is purchased on May 15, 2009 for $55,000 with a $5,000 salvage value and a five year life. The half year convention is followed. What method of depreciation will give the highest amount of depreciation expense in year 2?

Explanation / Answer

Double declining balance

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