A building is acquired on January 1 at a cost of $970,000 with an estimated useful life of eight years and salvage value of $87,300. Compute depreciation expense for the first three years using the double-declining-balance method. Note: Round your answers to the nearest dollar. Annual Period First Year Second Year Third Year Depreciation for the Period Depreciation Rate (%) Beginning of Period Book Value S 970,000 Depreciation Expense End of Period Accumulated Depreciation Book Value

A building is acquired on January 1 at a cost of $970,000 with an estimated useful life of eight years and salvage value of $87,300. Compute depreciation expense for the first three years using the double-declining-balance method. Note: Round your answers to the nearest dollar. Annual Period First Year Second Year Third Year Depreciation for the Period Depreciation Rate (%) Beginning of Period Book Value S 970,000 Depreciation Expense End of Period Accumulated Depreciation Book Value

Name: 1ancesQS 10-6 (Algo) Double-declining-balance method LO P1A building
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Description: 1ancesQS 10-6 (Algo) Double-declining-balance method LO P1A building is acquired on January 1 at a cost of $970,000 with an estimated useful life of eight years and salvage value of $87,300.Compute depreciation expense for the first three years usin

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets

Section19.5: Declining-balance Method Of Depreciation

Problem 1OYO

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