Need help Ill give like thanks A draw bench for precision forming and strengthening of carbon steel tubing has a cost of $1,070,000. It will have a salvage value of $66,000 after a useful life of 10 years. A draw bench for precision forming and strengthening of carbon steel tubing has a cost of $1,070,000. It will have a salvage value of$66,000 after a useful life of 10 years.PartaYour answers are correct.Using the formulas, determine the depreciation charge for year 6 and the book value at the end of year 6 if straight-linedepreciation is used.Depreciationcharge:Book value:Part bSeTextbook and Media$Carry all interim calculations to 5 decimal places and then round your final answers to a whole number. The tolerance is 11.Your answers are correct.Depreciationcharge:Book value:100400Using the formulas, determine the depreciation charge for year 6 and the book value at the end of year 6 if double decliningbalance depreciation is used.S467600$70124Attempts: 1 of 10 used280494Carry all interim calculations to 5 decimal places and then round your final answers to a whole number. The tolerance is 15. Develop a table showing the depreciation and book value for each year using the Excel® SLN worksheet function.Year12345678910$$$$$$$$LADepreciation$$$$$$$$$SABook ValueCarry all interim calculations to 5 decimal places and then round your final answers to a whole number. The tolerance is ±1

Straight line of Depreciation: Straight line depreciation is a common type of depreciation that…

Answered: A draw bench for precision forming and…

A draw bench for precision forming and strengthening of carbon steel tubing has a cost of $1,070,000. It will have a salvage value of $66,000 after a useful life of 10 years.

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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Question

Need help Ill give like thanks

A draw bench for precision forming and strengthening of carbon steel tubing has a cost of $1,070,000. It will have a salvage value of $66,000 after a useful life of 10 years.

Develop a table showing the depreciation and book value for each year using the Excel® SLN worksheet function.
Year
1
2
3
4
5
6
7
8
9
10
$
$
$
$
$
$
$
$
LA
Depreciation
$
$
$
$
$
$
$
$
$
SA
Book Value
Carry all interim calculations to 5 decimal places and then round your final answers to a whole number. The tolerance is ±1

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