Mason Industries purchased a drilling rig for $75,900. Delivery costs totaled $2,817. The useful life is 7 years and the salvage value is $12,952. Prepare a depreciation schedule using the straight-line method. Mason IndustriesDepreciation Schedule—Drilling End of Year Annual Depreciation ($) Accumulated Depreciation ($) Book Value ($) $78,717 (new) 1 $ $ $ 2 $ $ $ 3 $ $ $ 4 $ $ $ 5 $ $ $ 6 $ $ $ 7 $ $ $
Mason Industries purchased a drilling rig for $75,900. Delivery costs totaled $2,817. The useful life is 7 years and the salvage value is $12,952. Prepare a depreciation schedule using the straight-line method. Mason IndustriesDepreciation Schedule—Drilling End of Year Annual Depreciation ($) Accumulated Depreciation ($) Book Value ($) $78,717 (new) 1 $ $ $ 2 $ $ $ 3 $ $ $ 4 $ $ $ 5 $ $ $ 6 $ $ $ 7 $ $ $
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Mason Industries purchased a drilling rig for $75,900. Delivery costs totaled $2,817.
The useful life is 7 years and the salvage value is $12,952. Prepare a depreciation schedule using the straight-line method.
Mason IndustriesDepreciation Schedule—Drilling
| End of Year | Annual Depreciation ($) | Accumulated Depreciation ($) | Book Value ($) |
|---|---|---|---|
| $78,717 (new) | |||
| 1 | $ | $ | $ |
| 2 | $ | $ | $ |
| 3 | $ | $ | $ |
| 4 | $ | $ | $ |
| 5 | $ | $ | $ |
| 6 | $ | $ | $ |
| 7 | $ | $ | $ |
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