Mohr company purchases a machine at the beginning of the year at a cost of $23,000. the machine is depreciated using the double-declining-balance method. the machine's useful life is estimated to be 5 years with a $8,000 salvage value. the machine's book value at the end of year 2 is:

The book value at the end of the second year is $8,280.

Further Explanation:

Double declining balance method: It is a depreciation method in which the rate that is used to depreciate the asset is twice the rate as it is depreciated in the straight-line method. The depreciation is calculated as:

Calculate the depreciation under the double declining balance method:

Year 1:  

Year 2:

Therefore, the book value at the end of the second year is $8,280.

Learn more:

⦁Learn more about the recording of depreciation expenses

⦁Learn more about the value of the machine

⦁Learn more about the variable costing

Answer details:

Grade: High School

Subject: Accounts

Chapter: Depreciation

Keywords:Mohr company, a machine, cost of $23,000, the double-declining-balance method, the machine's useful life, five years, salvage value,  the machine's book value, depreciation, type of depreciation, face value.

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