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NewTech purchases computer equipment for $260,000 to use in operating activities for the next four years. It estimates the equipment's salvage value at $28,000. pare a table showing depreciation and book value for each of the four years assuming double-declining-balance depreciation. ter all amounts positive values.)

NewTech purchases computer equipment for $260,000 to use in operating activities for the next four years. It estimates the equipment's salvage value at $28,000. pare a table showing depreciation and book value for each of the four years assuming double-declining-balance depreciation. ter all amounts positive values.)

FINANCIAL ACCOUNTING
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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NewTech purchases computer equipment for $260,000 to use in operating activities for the next four years. It estimates the equipment's salvage value at $28,000. Prepare a table showing depreciation and book value for each of the four years assuming double-declining-balance depreciation. (Enter all amounts positive values.) Depreciation for the Period End of Period Beginning-Year Depreciation Book Value Annual Accumulated Year-End Book Value Year Rate Depreciation Depreciation 260,000 133,500 66,750 Year 1 4% $ 28,000 24 133,500 $ 133,500 Year 2 28,000 66,750 33,375 4% 66,750 Year 3 4% 28,000 33,375 Year 4 33,375 4% 28,000 16,688 16,688 Total 24 112,000 %24
Transcribed Image Text:NewTech purchases computer equipment for $260,000 to use in operating activities for the next four years. It estimates the equipment's salvage value at $28,000. Prepare a table showing depreciation and book value for each of the four years assuming double-declining-balance depreciation. (Enter all amounts positive values.) Depreciation for the Period End of Period Beginning-Year Depreciation Book Value Annual Accumulated Year-End Book Value Year Rate Depreciation Depreciation 260,000 133,500 66,750 Year 1 4% $ 28,000 24 133,500 $ 133,500 Year 2 28,000 66,750 33,375 4% 66,750 Year 3 4% 28,000 33,375 Year 4 33,375 4% 28,000 16,688 16,688 Total 24 112,000 %24
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