Skysong Company purchased a new plant asset on April 1, 2025, at a cost of $730,000. It was estimated to have a service life of 20 years and a salvage value of $70,600. Skysong' accounting period is the calendar year. x Your answer is incorrect. Compute the depreciation for this asset for 2025 and 2026 using the sum-of-the-years-digits method. (Do not round Intermediate calculations. Round final answers to O decimal places, e.g. 45,892.) Depreciation for 2025 $ Depreciation for 2026 62800 59660

Skysong Company purchased a new plant asset on April 1, 2025, at a cost of $730,000. It was estimated to have a service life of 20 years and a salvage value of $70,600. Skysong' accounting period is the calendar year. x Your answer is incorrect. Compute the depreciation for this asset for 2025 and 2026 using the sum-of-the-years-digits method. (Do not round Intermediate calculations. Round final answers to O decimal places, e.g. 45,892.) Depreciation for 2025 $ Depreciation for 2026 62800 59660

Name: Please no image based solution thnks Compute the depreciation for this
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Description: Please no image based solution thnks Compute the depreciation for this asset for 2025 and 2026 using the double-declining-balance method. (Do not round Intermediatecalculations. Round final answers to O decimal places, e.g. 45,892.)Depreciation for 2

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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