Homework Answers
| As multiple questions have been asked, only first 4 can be answered at a time. | |||||||||
| 1 | |||||||||
| Accumulated depreciation till year 4=(160000-40000)/15*4= 32000 | |||||||||
| Book value at the end of year 4 = 160000-32000 = 128000 | |||||||||
| Depreciation expense for current and future year=128000/8=$16000 | |||||||||
| Option 4 is correct | |||||||||
| 2 | |||||||||
| The two methods for uncollectible accounts are reserve method and direct cancellation method | |||||||||
| Option 2 is correct | |||||||||
| 3 | |||||||||
| The formula to determine cost to depreciate is Initial cost-Residual value | |||||||||
| Option 2 is correct | |||||||||
| 4 | |||||||||
| Double declining balance does not consider residual value | |||||||||
| Option 3 is correct | |||||||||
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