Bergen Company purchased factory equipment which was installed and put into service January 1, 2018at a total cost of 1,280,000. The equipment is depreciated over eight years with residual value of 80,000.
Questions:
Using double declining balance method of depreciation, what amount of depreciation expense should berecorded on the equipment for 2019?
Using SYDs method of depreciation, what is the accumulated depreciation on December 31, 2019?
Using straight line method of depreciation, what is the carrying amount of the equipment on December 31,2019?
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