1. A set of office equipment costs $100,000 and has a useful life of 6 years. Its estimated market value at the end of the 6th year is $5,000. Determine the depreciation amount on the 4th year and the book value at the end of the 3rd year using: a. Straight Line Method b. Double Declining Balance Method c. Sum- of - Years Digits Method d. Declining Balance Method with Switchover to SL e. MACRS GDS (assume that the assets will be disposed of on the 3rd year) f. MACRS ADS

1. A set of office equipment costs $100,000 and has a useful life of 6 years. Its estimated market value at the end of the 6th year is $5,000. Determine the depreciation amount on the 4th year and the book value at the end of the 3rd year using: a. Straight Line Method b. Double Declining Balance Method c. Sum- of - Years Digits Method d. Declining Balance Method with Switchover to SL e. MACRS GDS (assume that the assets will be disposed of on the 3rd year) f. MACRS ADS

Name: 1. A set of office equipment costs $100,000 and has a useful life of
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Description: 1. A set of office equipment costs $100,000 and has a useful life of 6 years. Its estimatedmarket value at the end of the 6th year is $5,000. Determine the depreciation amount on the4th year and the book value at the end of the 3rd year using: a. St

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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