For each of the following depreciable assets determine the missing amount abbreviations for depreciation methods or SL for straight line and DDB for double declining balance 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. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.)| Asset | Cost | Residual Value | Service Life (Years) | Depreciation Method | Depreciation (Year 2) ||-------|-------|----------------|----------------------|---------------------|----------------------|| A | - | $26,000 | 5 | DDB | $33,000 || B | 52,000| - | 8 | SL | 5,100 || C | 77,000| 5,000 | 9 | SL | 8,000 || D | 242,000| 16,000 | 10 | SL | 22,600 || E | 206,000| 26,000 | 8 | DDB | - |

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Description: For each of the following depreciable assets determine the missing amount abbreviations for depreciation methods or SL for straight line and DDB for double declining balance For each of the following depreciable assets, determine the missing amount.

Accumulated depreciation is a contra-asset account. It has a credit balance, it shows the cumulative…

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For each of the following depreciable assets, determine the missing amount. Abba straight-line and DDB for double-declining-balance. (Do not round intermediate c whole dollar.) Asset A B Cost 52,000 Residual Value $ 26,000 Service Life Depreciation Depreciation (Years) Method (Year 2) DDB $ 33,000 SL 5,100 5 8

For each of the following depreciable assets, determine the missing amount. Abba straight-line and DDB for double-declining-balance. (Do not round intermediate c whole dollar.) Asset A B Cost 52,000 Residual Value $ 26,000 Service Life Depreciation Depreciation (Years) Method (Year 2) DDB $ 33,000 SL 5,100 5 8

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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