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Illustrate the accounting for depreciation using the ddm

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Problem 1: HH Gym Ltd purchased exercise equipment at a cost of $107,000 at the start of Y1. In addition, HH Gym Ltd paid $1900 for a unique raised platform to stabilise the equipment for users' use. Transportation costs of $1100 were incurred by HH Gym Ltd to ship the equipment to its gym location. HH Gym Ltd uses a double declining depreciation method based on an expected useful life of 10 years. The estimated residual value of the equipment is $11000. Illustrate the accounting for depreciation using the DDM by computing the depreciation expense in the second year:

Option 1: None of the listed options
Option 2: $21780
Option 3: $13939
Option 4: $17424

Reference no: EM132726368

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