Homework Answers
| Straight-line | ||||
| Year | Depreciable Cost | Depreciation Exp. | Acc. Dep | Carrying Amount |
| 1 | $100,000 | $14,286 | $14,286 | $95,714 |
| 2 | $100,000 | $14,286 | $28,572 | $81,428 |
| 3 | $100,000 | $14,286 | $42,858 | $67,142 |
| 4 | $100,000 | $14,286 | $57,144 | $52,856 |
| 5 | $100,000 | $14,286 | $71,430 | $38,570 |
| 6 | $100,000 | $14,286 | $85,716 | $24,284 |
| 7 | $100,000 | $14,284 | $100,000 | $10,000 |
| Depreciation per year = ($110,000 - $10,000)/7 = $14.285.71 i.e. $14,286 | ||||
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A
piece of construction equipment is purchased for $ 110,000 and has
an estimated residual / salvage value of $ 10,000 at the end of a 7
year recovery period. Prepare a Depreciation Schedule using:
A.
Straight-Line Method
B.
Sum-of-the-Years Method
C.
200% Declining Balance Method
****please use the template in the pic to do the problem
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A
piece of construction equipment is purchased for $ 110,000 and has
an estimated residual / salvage value of $ 10,000 at the end of a 7
year recovery period. Prepare a Depreciation Schedule using:
A.
Straight-Line Method
B.
Sum-of-the-Years Method
C.
200% Declining Balance Method
****please use the template in the pic to do the problem
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