Depreciation MethodsSayers Company purchased a building for $250,000 on January 2, 2019. The building has an expected residual value of $20,000 at the end of its expected life of 20 years.Required:Question Content Area1 a. Prepare a schedule showing depreciation expense for 2019 and 2020 and the book value on December 31, 2019, and December 31, 2020, for straight-line method. If required, round your answers to the nearest dollar.SAYERS COMPANYDepreciation ScheduleStraight-line Beginning Book ValueDepreciationEnding Book Value2019 2020 Question Content Areab. Prepare a schedule showing depreciation expense for 2019 and 2020 and the book value on December 31, 2019, and December 31, 2020, for sum-of-the-years'-digits method. If required, round your answers to the nearest dollar.SAYERS COMPANYDepreciation ScheduleSum-of-the-years'-digits method Beginning Book ValueDepreciationEnding Book Value2019 2020 Question Content Areac. Prepare a schedule showing depreciation expense for 2019 and 2020 and the book value on December 31, 2019, and December 31, 2020, for double-declining-balance method. If required, round your answers to the nearest dollar.SAYERS COMPANYDepreciation ScheduleDouble-declining-balance Beginning Book ValueDepreciationEnding Book Value2019 2020 Question Content Aread. Prepare a schedule showing depreciation expense for 2019 and 2020 and the book value on December 31, 2019, and December 31, 2020, for 150%-declining-balance method. If required, round your answers to the nearest dollar.SAYERS COMPANYDepreciation Schedule150%-declining-balance Beginning Book ValueDepreciationEnding Book Value2019 2020 Question Content Area2. Holding all other things equal, the recording of depreciation causes the rate of return on total assets to_________ each year because the book value of the property, plant, and equipment _____________ each year.

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Answered: Sayers Company purchased a building for…

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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Depreciation Methods

Sayers Company purchased a building for $250,000 on January 2, 2019. The building has an expected residual value of $20,000 at the end of its expected life of 20 years.

Required:

Question Content Area

1 a. Prepare a schedule showing depreciation expense for 2019 and 2020 and the book value on December 31, 2019, and December 31, 2020, for straight-line method. If required, round your answers to the nearest dollar.

SAYERS COMPANYDepreciation ScheduleStraight-line

	Beginning Book Value	Depreciation	Ending Book Value
2019
2020

Question Content Area

b. Prepare a schedule showing depreciation expense for 2019 and 2020 and the book value on December 31, 2019, and December 31, 2020, for sum-of-the-years'-digits method. If required, round your answers to the nearest dollar.

SAYERS COMPANYDepreciation ScheduleSum-of-the-years'-digits method

	Beginning Book Value	Depreciation	Ending Book Value
2019
2020

Question Content Area

c. Prepare a schedule showing depreciation expense for 2019 and 2020 and the book value on December 31, 2019, and December 31, 2020, for double-declining-balance method. If required, round your answers to the nearest dollar.

SAYERS COMPANYDepreciation ScheduleDouble-declining-balance

	Beginning Book Value	Depreciation	Ending Book Value
2019
2020

Question Content Area

d. Prepare a schedule showing depreciation expense for 2019 and 2020 and the book value on December 31, 2019, and December 31, 2020, for 150%-declining-balance method. If required, round your answers to the nearest dollar.

SAYERS COMPANYDepreciation Schedule150%-declining-balance

	Beginning Book Value	Depreciation	Ending Book Value
2019
2020

Question Content Area

2. Holding all other things equal, the recording of depreciation causes the rate of return on total assets to_________ each year because the book value of the property, plant, and equipment

_____________ each year.

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