Use the sum-of-the-years'-digits depreciation method to make a depreciation schedule (first two years) for a forklift that cost $31,000, has an expected useful life of ten years, and has a residual value of $2,600. Complete the following table for two years. Enter the depreciation rate as a fraction. Enter annual depreciation, accumulated depreciation, and end-of-year book value as decimals rounded to the nearest cent. Year Depreciation rate Annual depreciation Accumulated depreciation End-of-year book value 1 enter your response here $enter your response here $enter your response here $enter your response here Part 2
Use the sum-of-the-years'-digits depreciation method to make a depreciation schedule (first two years) for a forklift that cost $31,000, has an expected useful life of ten years, and has a residual value of $2,600. Complete the following table for two years. Enter the depreciation rate as a fraction. Enter annual depreciation, accumulated depreciation, and end-of-year book value as decimals rounded to the nearest cent. Year Depreciation rate Annual depreciation Accumulated depreciation End-of-year book value 1 enter your response here $enter your response here $enter your response here $enter your response here Part 2
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....
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Use the sum-of-the-years'-digits
Complete the following table for two years. Enter the depreciation rate as a fraction. Enter annual depreciation, accumulated depreciation, and end-of-year book value as decimals rounded to the nearest cent.
Year
|
Depreciation rate
|
Annual depreciation
|
Accumulated depreciation
|
End-of-year book value
|
|
---|---|---|---|---|---|
1
|
enter your response here
|
$enter your response here
|
$enter your response here
|
$enter your response here
|
|
Part 2
2
|
enter your response here
|
$enter your response here
|
$enter your response here
|
$enter your response here
|
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