Can you tell me why this keeps saying that the answer is incomplete? I’ve already depreciated the asset down to its residual value. Problem 7-5B Part 22. Prepare a depreciation schedule for four years using the double-declining-balance methoonly two years.) (Do not round your intermediate calculations.)CHEETAH COPYDepreciation Schedule-Double-Declining-BalanceEnd of Year AmountsDepreciationExpenseAccumulatedYearBook ValueDepreciation12$50,0002$50,0002$50,000225,00075,00025,0004Total2$75,000 Required informationProblem 7-5B Determine depreciation under three methods (LO7-4)[The following information applies to the questions displayed below.]Cheetah Copy purchased a new copy machine. The new machine cost $100,000 including installation. The companyestimates the equipment will have a residual value of $25,000. Cheetah Copy also estimates it will use the machine forfour years or about 8,000 total hours. Actual use per year was as follows:YearHours Used13,0002,0001,2002,8003Problem 7-5B Part 22. Prepare a depreciation schedule for four years using the double-declining-balance method. (Hint: The asset will be depreciated inonly two years.) (Do not round your intermediate calculations.)CHEETAH COPYDepreciation Schedule-Double-Declining-BalanceEnd of Year Amounts< PrevNext >of 8FEB2430

The book value should carry forward till the end of 4 years.

2. Prepare a depreciation schedule for four years using the double-declining-balance metho only two years.) (Do not round your intermediate calculations.) CHEETAH CОPY Depreciation Schedule-Double-Declining-Balance End of Year Amounts Depreciation Expense Accumulated Year Book Value Depreciation 2$ 50,000 2$ 50,000 2$ 50,000 25,000 75,000 25,000 3. 4.

2. Prepare a depreciation schedule for four years using the double-declining-balance metho only two years.) (Do not round your intermediate calculations.) CHEETAH CОPY Depreciation Schedule-Double-Declining-Balance End of Year Amounts Depreciation Expense Accumulated Year Book Value Depreciation 2$ 50,000 2$ 50,000 2$ 50,000 25,000 75,000 25,000 3. 4.

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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Similar questions

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Discussion
Fixed assets have their expenses spread out over time with depreciation. Why aren't they fully expensed at the time they are purchased?
In what ways might a depreciable asset's estimated service life be influenced?