Maria is a wedding planner. She purchases a laserjet printer for invitations, save-the-date postcards, etc. The laserjet costs $1199. The laserjet has an expected life of five years; at the end of which time Maria expects a rebate of $90 when she turns in her old laserjet and purchases a new one. Maria uses the double-declining-balance method to calculate depreciation. What is the annual depreciation in the first year? $ What is the book value at the end of the second year? $ What is the accumulated depreciation by the end of year 3?

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 7EB: Kenzie purchased a new 3-D printer for $450,000. Although this printer is expected to last for ten...
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Maria is a wedding planner. She purchases a laserjet printer for invitations, save-the-date postcards, etc. The laserjet costs $1199. The laserjet has an expected life of five years; at the end of which time Maria expects a rebate of $90 when she turns in her old laserjet and purchases a new one. Maria uses the double-declining-balance method to calculate depreciation.

What is the annual depreciation in the first year?
$


What is the book value at the end of the second year?
$


What is the accumulated depreciation by the end of year 3?
$

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