answer in text form please (without image) For each of the following depreciable assets, determine the missing amount. Abbreviations for depreciation methods areSL for straight-line and DDB for double-declining-balance.Note: Do not round intermediate calculations. Round your final answers to nearest whole dollar.AssetABсDECost56,00081,000246,000208,000Residual Value$ 28,0006,00018,00028,000Service Life(Years)58108DepreciationMethodDDBSLSLDDBDepreciation(Year 2)$24,0005,3005,00022,800

Depreciation is considered an expense charge on the value of the asset. It can be calculated by…

Answered: A B C DE E 56,000 81,000 246,000…

A B C DE E 56,000 81,000 246,000 208,000 S 28,000 6,000 18,000 28,000 5 8 10 8 DDB SL SL DDB S 24,000 5,300 5,000 22,800

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

answer in text form please (without image)

For each of the following depreciable assets, determine the missing amount. Abbreviations for depreciation methods are
SL for straight-line and DDB for double-declining-balance.
Note: Do not round intermediate calculations. Round your final answers to nearest whole dollar.
Asset
A
B
с
D
E
Cost
56,000
81,000
246,000
208,000
Residual Value
$ 28,000
6,000
18,000
28,000
Service Life
(Years)
5
8
10
8
Depreciation
Method
DDB
SL
SL
DDB
Depreciation
(Year 2)
$
24,000
5,300
5,000
22,800

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