On January 1, 2013, Williams Co

Short Answer

On January 1, 2013, Williams Co. purchased a machine for $60,000. Williams estimated the useful life of the machine to be 10 years and the salvage value to be $10,000. Indicate whether each of the following statements is true or false.
_____ a) Depreciation expense for 2013 under the straight-line method would be $6,000.
_____ b) Depreciation expense for 2013 under the double declining method would be $12,000.
_____ c) The accumulated depreciation at the end of 2014 under the straight-line method would be $10,000.
_____ d) The accumulated depreciation at the end of 2014 under the double declining method would be $24,000.
_____ e) The book value of the machine under both the double declining method and the straight-line method at the end of 10 years would be $10,000.