Chapter 9, Problem 9.22E

To determine

Double-declining-balance method: It is an accelerated method of depreciation under which the depreciation declines in each successive year until the value of asset becomes zero. Under this method, the book value (original cost less accumulated depreciation) of the long-term asset is decreased by a fixed rate. It is double the rate of the straight-line depreciation. Use the following formula to determine the annual depreciation:

$\text{Depreciation }=\text{ Purchase price }\times \left(\frac{2}{\text{Useful life}}\right)$

To record: the journal entry for the depreciation expense for 2018.

To determine

To record: the journal entry for the sale of the fixtures on October 31, 2018.