Year 1 2 3 4 5 Total Straight-Line $12,780 12,780 12,780 12,780 12,780 $63,900 Sum-of-the- Double-Declining- Years'-Digits Balance $21,300 17,040 Answer the following questions. 12,780 8,520 4,260 $63,900 $28,400 17,040 10,224 6,134 2,102 $63,900
Year 1 2 3 4 5 Total Straight-Line $12,780 12,780 12,780 12,780 12,780 $63,900 Sum-of-the- Double-Declining- Years'-Digits Balance $21,300 17,040 Answer the following questions. 12,780 8,520 4,260 $63,900 $28,400 17,040 10,224 6,134 2,102 $63,900
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter18: Accounting For Long-term Assets
Section: Chapter Questions
Problem 3CE: A machine costing 350,000 has a salvage value of 15,000 and an estimated life of three years....
Related questions
Question
10
![(b)
What amount, if any, was used in the depreciation calculations for the salvage value for this asset?
Salvage value $
eTextbook and Media
eTextbook
Assistance Used](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F12f89404-9056-4a5e-9aa8-48d95e7d14f7%2Ffb12f8ea-b534-437d-adf9-8e9155346c63%2Fjwsgu8t_processed.jpeg&w=3840&q=75)
Transcribed Image Text:(b)
What amount, if any, was used in the depreciation calculations for the salvage value for this asset?
Salvage value $
eTextbook and Media
eTextbook
Assistance Used
![Kingbird Company acquired a plant asset at the beginning of Year 1. The asset has an estimated service life of 5 years. An employee
has prepared depreciation schedules for this asset using three different methods to compare the results of using one method with the
results of using other methods. You are to assume that the following schedules have been correctly prepared for this asset using (1)
the straight-line method, (2) the sum-of-the-years'-digits method, and (3) the double-declining-balance method.
Year Straight-Line
$12,780
1
2
3
4
5
Total
12,780
12,780
12,780
12,780
$63,900
Sum-of-the-
Years'-Digits
$21,300
17,040
12,780
8,520
Answer the following questions.
4,260
$63,900
Double-Declining-
Balance
$28,400
17,040
10,224
6,134
2,102
$63,900](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F12f89404-9056-4a5e-9aa8-48d95e7d14f7%2Ffb12f8ea-b534-437d-adf9-8e9155346c63%2Fq3bneth_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Kingbird Company acquired a plant asset at the beginning of Year 1. The asset has an estimated service life of 5 years. An employee
has prepared depreciation schedules for this asset using three different methods to compare the results of using one method with the
results of using other methods. You are to assume that the following schedules have been correctly prepared for this asset using (1)
the straight-line method, (2) the sum-of-the-years'-digits method, and (3) the double-declining-balance method.
Year Straight-Line
$12,780
1
2
3
4
5
Total
12,780
12,780
12,780
12,780
$63,900
Sum-of-the-
Years'-Digits
$21,300
17,040
12,780
8,520
Answer the following questions.
4,260
$63,900
Double-Declining-
Balance
$28,400
17,040
10,224
6,134
2,102
$63,900
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