Consider the purchase of a new grain bin for Green Acres Farms. The specific information is: Purchase price = $300,000.00 Purchase date = Jan 1, 2018 Useful life = 5 years value = $75,000.00 Salvage %3D %3D Complete the numbered spaces in the following able using the 150% declining balance method. Year Remaining value at Depreciation Remaining value at end of beginning of year year 2018 2019 2020 2021 2022 2023
Consider the purchase of a new grain bin for Green Acres Farms. The specific information is: Purchase price = $300,000.00 Purchase date = Jan 1, 2018 Useful life = 5 years value = $75,000.00 Salvage %3D %3D Complete the numbered spaces in the following able using the 150% declining balance method. Year Remaining value at Depreciation Remaining value at end of beginning of year year 2018 2019 2020 2021 2022 2023
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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please answer both the methods within 30 minutes.
Transcribed Image Text:Consider the purchase of a new grain bin for Green
Acres Farms. The specific information
is:
Purchase price
$300,000.00
Purchase date = Jan 1,
2018
Useful life = 5 years
value = $75,000.00
Salvage
%3D
Complete the numbered spaces in the following
table using the 150% declining balance method.
Year
Remaining
value at
Depreciation
Remaining
value at
end of
beginning
of year
year
2018
2019
2020
2021
2022
2023
Transcribed Image Text:Complete the numbered spaces in the following
table using the 150% Declining Balance MACRS
method.
Remaining
value at
Remaining
value at
Year
Depreciation
end of
beginning
of year
year
2018
2019
2020
2021
2022
2023
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