A piece of construction equipment is purchased for $ 110,000 and has an estimated residual /...
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
Homework Answers
Solution:
Depreciation = Fraction * (110000-10000)
Eg. Year 1 = 7/8*100000 = 25000
Depreciation = Fraction * Bvm
eg: Year 2 = 2/7*78571 = 22449
Hope this helps! In case of any clarifications, kindly use the comment box below
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piece of construction equipment is purchased for $ 110,000 and has
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