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QS 10-6 (Algo) Double-declining-balance method LO P1 A building is acquired on January 1 at a cost of $1,010,000 with an estimated useful life of eight years and salvage value of $90,900. Compute depreciation expense for the first three years using the double-declining-balance method. Note: Round your answers to the nearest dollar. Annual Period First Year Second Year Third Year Depreciation for the Period Depreciation Rate (%) Beginning of Period Book Value $1,010,000 1808.000 646,400 Depreciation Expense 20% $ 20% 20% End of Period 161,600 129,280 Accumulated Depreciation 202,000 $ 202,000 $ 363,600 492,880 Book Value 808,000 646,400 517,120

QS 10-6 (Algo) Double-declining-balance method LO P1 A building is acquired on January 1 at a cost of $1,010,000 with an estimated useful life of eight years and salvage value of $90,900. Compute depreciation expense for the first three years using the double-declining-balance method. Note: Round your answers to the nearest dollar. Annual Period First Year Second Year Third Year Depreciation for the Period Depreciation Rate (%) Beginning of Period Book Value $1,010,000 1808.000 646,400 Depreciation Expense 20% $ 20% 20% End of Period 161,600 129,280 Accumulated Depreciation 202,000 $ 202,000 $ 363,600 492,880 Book Value 808,000 646,400 517,120

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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QS 10-6 (Algo) Double-declining-balance method LO P1 A building is acquired on January 1 at a cost of $1,010,000 with an estimated useful life of eight years and salvage value of $90,900. Compute depreciation expense for the first three years using the double-declining-balance method. Note: Round your answers to the nearest dollar. Annual Period First Year Second Year Third Year Depreciation for the Period Beginning of Period Book Value $ 1,010,000 808,000 646,400 Depreciation Depreciation Rate (%) Expense 20% S 20% 20% End of Period Accumulated Depreciation 202,000 $ 202,000 $ 161,600 363,600 129,280 492,880 Book Value 808,000 646,400 517,120 < Prev 6 of 12 Next >
Transcribed Image Text:QS 10-6 (Algo) Double-declining-balance method LO P1 A building is acquired on January 1 at a cost of $1,010,000 with an estimated useful life of eight years and salvage value of $90,900. Compute depreciation expense for the first three years using the double-declining-balance method. Note: Round your answers to the nearest dollar. Annual Period First Year Second Year Third Year Depreciation for the Period Beginning of Period Book Value $ 1,010,000 808,000 646,400 Depreciation Depreciation Rate (%) Expense 20% S 20% 20% End of Period Accumulated Depreciation 202,000 $ 202,000 $ 161,600 363,600 129,280 492,880 Book Value 808,000 646,400 517,120 < Prev 6 of 12 Next >
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