Xyz company purchased a new machine on january 1 2002 for

Reference no: EM13585852

XYZ Company purchased a new machine on January 1, 2002 for $92,000. The machine was assigned a 10-year life and a $1,000 residual value. Calculate the amount of accumulated depreciation on the machine shown in the December 31, 2004 balance sheet assuming the company uses the double-declining balance depreciation method.

Reference no: EM13585852

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