Homework Answers
1. SLM
| Original Cost | 350000 |
| Salvage Value | 30000 |
| Life | 4 |
Depreication (SLM) = (350000-30000)/4 = 80000.
| Date | Opening Book value | Depreciation | Closing Book value |
| 1/1/2018 | 350000 | 350000 | |
| 31/12/18 | 350000 | 80000 | 270000 |
| 31/12/19 | 270000 | 80000 | 190000 |
| 31/12/20 | 190000 | 80000 | 110000 |
| 31/12/21 | 110000 | 80000 | 30000 |
2. Units of production:
| Original Cost | 350000 |
| Salvage Value | 30000 |
| Value to be depreciated | 320000 |
..
| Date | Units Produced | Opening Book Value | Depreciation | Closing Book value | |
| 1/1/2018 | 350000 | 350000 | |||
| 31/12/18 | 30000 | 350000 | 320000*30000/100000 | 96000 | 254000 |
| 31/12/19 | 40000 | 254000 | 320000*40000/100000 | 128000 | 126000 |
| 31/12/20 | 20000 | 126000 | 320000*20000/100000 | 64000 | 62000 |
| 31/12/21 | 10000 | 62000 | 320000*10000/100000 | 32000 | 30000 |
| TOTAL | 100000 | ||||
3. Depreciation as per SLM => 80000. SO depreciation rate as per slm => 80000/350000*100 = 22.857%.
So Double Declining Method, Deprecation Rate = 22.857*2 = 45.714%
| Date | Opening Book Value | Depreciation | Closing Book value |
| 1/1/2018 | 350,000.00 | 350,000.00 | |
| 31/12/18 | 350,000.00 | 350000*45.714% = 160,000.00 | 190,000.00 |
| 31/12/19 | 190,000.00 | 190000*45.714% = 86,857.14 | 103,142.86 |
| 31/12/20 | 103,142.86 | 103142.86*45.714% =47,151.02 | 55,991.84 |
| 31/12/21 | 55,991.84 | (55991.84-30000) = 25,991.84 | 30,000.00 |
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