Foster Corporation purchased a new machine for its assembly process on August 1, 2020. The cost of this machine was $235,800. The company estimated that the machine would have a trade-in value of $25,800 at the end of its service life. Its life is estimated at 10 years, and its working hours are estimated at 42,000 hours. Year-end is December 31. Compute and record the depreciation expense using the double declining balance method for 2022

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Foster Corporation purchased a new machine for its assembly process on August 1, 2020. The cost of this machine was $235,800. The company estimated that the machine would have a trade-in value of $25,800 at the end of its service life. Its life is estimated at 10 years, and its working hours are estimated at 42,000 hours. Year-end is December 31.

Compute and record the depreciation expense using the double declining balance method for 2022

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