A Kubota tractor acquired on January 8 at a cost of $297,000 has an estimated useful life of 10 years. Assuming that it will have no residual value. a.  Determine the depreciation for each of the first two years by the straight-line method. First Year Second Year $fill in the blank 1 $fill in the blank 2 b.  Determine the depreciation for each of the first two years by the double-declining-balance method. Do not round the double-declining balance rate. If required, round your final answers to the nearest dollar. First Year Second Year $fill in the blank 3 $fill in the blank 4

Straight-Line, Declining-Balance, Sum-Of-The-Years'-Digits, and MACRS Methods A machine is purchased January 1 at a cost of $59,000. It is expected to serve for eight years and have a salvage value of $3,000. Required: 1. Prepare a schedule showing depreciation for each year and the book value at the end of each year using the following methods a.  Straight-line

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Depreciation by Two Methods A Kubota tractor acquired on January 8 at a cost of $85,000 has an estimated useful life of 10 years. Assuming that it will have no residual value. a.  Determine the depreciation for each of the first two years by the straight-line method. First Year Second Year $fill in the blank 1 $fill in the blank 2 b.  Determine the depreciation for each of the first two years by the double-declining-balance method. First Year Second Year $fill in the blank 3 $fill in the blank 4

Knife Edge Company purchased tool sharpening equipment on July 1, 20Y5, for $16,200. The equipment was expected to have a useful life of three years and a residual value of $900. Instructions: a.  Determine the amount of depreciation expense for the years ended December 31, 20Y5, 20Y6, 20Y7 and 20Y8 by the straight-line method.   Depreciation Expense 20Y5 $fill in the blank 1 20Y6 $fill in the blank 2 20Y7 $fill in the blank 3 20Y8 $fill in the blank 4 b.  Determine the amount of depreciation expense for the years ended December 31, 20Y5, 20Y6, 20Y7 and 20Y8 by the double-declining-balance method. Round the double-declining-balance depreciation rate to six decimal places and round your final answers to the nearest whole dollar.   Depreciation Expense 20Y5 $fill in the blank 5 20Y6 $fill in the blank 6 20Y7 $fill in the blank 7 20Y8 $fill in the blank 8

Depreciation by Two Methods A computer system acquired on January 1 at a cost of $180,000 has an estimated useful life of ten years. Assuming that it will have no residual value. a. Determine the depreciation for each of the first two years by the straight-line method. First Year Second Year b. Determine the depreciation for each of the first two years by the double-declining-balance method. Do not round the double-declining balance rate. If required, round your final answers to the nearest dollar. First Year Second Year 4

MNVK Corp. purchased a computer system at a cost of $140,000 on January 1, 20X1. The estimated useful life is 10 years, and the estimated residual value is $10,000. Assuming MNVK uses the double-declining-balance method, what is the depreciation expense for 20X2?   Select one: a. $22,800 b. $28,000 c. $26,000 d. $22,400 e. $20,800

Depreciation by Two Methods A storage tank acquired at the beginning of the fiscal year at a cost of $129,600 has an estimated residual value of $7,500 and an estimated useful life of 25 years. a. Determine the amount of annual depreciation by the straight-line method. b. Determine the amount of depreciation for the first and second years computed by the double-declining-balance method. Do not round the double-declining balance rate. If required, round your answers to the nearest dollar. Depreciation Year 1 Year 2

Depreciation by Two Methods A storage tank acquired at the beginning of the fiscal year at a cost of $115,200 has an estimated residual value of $6,800 and an estimated useful life of four years. a.  Determine the amount of annual depreciation by the straight-line method.$fill in the blank 1 b.  Determine the amount of depreciation for the first and second years computed by the double-declining-balance method. Do not round the double-declining balance rate. If required, round your answers to the nearest dollar.   Depreciation Year 1 $fill in the blank 2 Year 2 $fill in the blank 3

B purchased a machine for $120,000 on 1 October 20X1. The estimated useful life is 4 years with a residual value of $4,000. B uses the straight-line method for depreciation and charges depreciation on a monthly basis. What is the charge for depreciation for the year ended 31 December 20X1? A $7,250 B $7,500 C $29,000 D $30,000