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  3. on january 1, 2025, a company acquired equipment f

On January 1, 2025, a company acquired equipment for S190,000. Residual value was estimated to...

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Accounting

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On January 1, 2025, a company acquired equipment for S190,000. Residual value was estimated to be $15,000. The equipment can be used 75,000 machine hours or a useful life of four years. Actual usage of the equipment was recorded as 5,000 hours for the first year . What is the journal entry for depreciation expense for the first year calculated by the double-declining - balance method? A. Depreciation Expense - Equipment Accumulated Depreciation - Equipment 95,000 95,000 B. Accumulated Depreciation - Equipment Depreciation Expense - Equipment 95,000 95,000 C. Depreciation Expense - Equipment Accumulated Depreciation - Equipment 11,650 11,650 OD. Accumulated Depreciation - Equipment Depreciation Expense - Equipment 11,650 11,650

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