AlignmentttingTableV18frNumberStylesAB.-Calculate the depreciation on an asset that originally cost $812,000, has a salvage value of $52,000KB and an estimated useful life of 6 years.10 You only need to record the FIRST 4 years using each method11 SHOW YOUR CALCULATIONS.1213 STRAIGHT LINE14YEAR1SHOW YOUR WORK HERE15YEAR 216YEAR 317YEAR 4181920 Double Declining Balance21SHOW YOUR WORK HERE22YEAR123YEAR 224YEAR 325YEAR 4262728 Sum of the Years DigitsSHOW YOUR WORK HERE2930YEAR131YEAR 232YEAR 333YEAR 4Sheet1Ready17

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Description: AlignmentttingTableV18frNumberStylesAB.-Calculate the depreciation on an asset that originally cost $812,000, has a salvage value of $52,000KB and an estimated useful life of 6 years.10 You only need to record the FIRST 4 years using each method11 S

Straight line method Depreciation = (Cost- Salvage value)/ Useful life Double declining method…

Business

Accounting

G Calculate the depreciation on an asset that originally cost $812,000, has a salvage value of $52,000 and an estimated useful life of 6 years. H. M You only need to record the FIRST 4 years using each method SHOW YOUR CALCULATIONS. B STRAIGHT LINE YEAR1 SHOW YOUR WORK HERE YEAR 2 YEAR 3 YEAR 4 18 19 20 Double Declining Balance 21 SHOW YOUR WORK HERE 22 YEAR1 23 YEAR 2 24 YEAR 3 25 YEAR 4 26 27 28 Sum of the Years Digits SHOW YOUR WORK HERE 29 30 YEAR1 31 YEAR 2 32 YEAR 3 33 YEAR 4

G Calculate the depreciation on an asset that originally cost $812,000, has a salvage value of $52,000 and an estimated useful life of 6 years. H. M You only need to record the FIRST 4 years using each method SHOW YOUR CALCULATIONS. B STRAIGHT LINE YEAR1 SHOW YOUR WORK HERE YEAR 2 YEAR 3 YEAR 4 18 19 20 Double Declining Balance 21 SHOW YOUR WORK HERE 22 YEAR1 23 YEAR 2 24 YEAR 3 25 YEAR 4 26 27 28 Sum of the Years Digits SHOW YOUR WORK HERE 29 30 YEAR1 31 YEAR 2 32 YEAR 3 33 YEAR 4

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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Concept explainers

Depreciation Methods

The word "depreciation" is defined as an accounting method wherein the cost of tangible assets is spread over its useful life and it usually denotes how much of the assets value has been used up. The depreciation is usually considered as an operating expense. The main reason behind depreciation includes wear and tear of the assets, obsolescence etc.

Depreciation Accounting

In terms of accounting, with the passage of time the value of a fixed asset (like machinery, plants, furniture etc.) goes down over a specific period of time is known as depreciation. Now, the question comes in your mind, why the value of the fixed asset reduces over time.

Topic Video

Question

Alignment
tting
Table
V18
fr
Number
Styles
A
B.
-Calculate the depreciation on an asset that originally cost $812,000, has a salvage value of $52,000
K
B and an estimated useful life of 6 years.
10 You only need to record the FIRST 4 years using each method
11 SHOW YOUR CALCULATIONS.
12
13 STRAIGHT LINE
14
YEAR1
SHOW YOUR WORK HERE
15
YEAR 2
16
YEAR 3
17
YEAR 4
18
19
20 Double Declining Balance
21
SHOW YOUR WORK HERE
22
YEAR1
23
YEAR 2
24
YEAR 3
25
YEAR 4
26
27
28 Sum of the Years Digits
SHOW YOUR WORK HERE
29
30
YEAR1
31
YEAR 2
32
YEAR 3
33
YEAR 4
Sheet1
Ready
17

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Need help with question B & C Thanks
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