Question

marlow company purchased a point of sale system on january 1 for $3,400. this system has a useful life of 10 years and a salvage value of $400. what would be the book value of the asset at the end of the first year of its useful life using the double-declining-balance method?

Answer 1

$ 680 will be the book value of the asset at the end of the year.

what is book value ?

As part of numerous financial assessments, book values and market values of assets are frequently contrasted. For instance, if you spent $50,000 on a machine and depreciated it at a rate of $10,000 annually, the machine would have a book value of $30,000 at the end of the second year.

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