A Kubota tractor acquired on January 9 at a cost of $252,000 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 answer to the nearest dollar. First Year Second Year $ $

A Kubota tractor acquired on January 8 at a cost of $80,000 has an estimated useful life of 4 years. Assuming that it will have no residual value, determine the depreciation for each of the first two years: by the straight-line method. Round your answers to the nearest dollar.   First Year Second Year       by the double-declining-balance method. Round your answers to the nearest dollar.   First Year Second Year

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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

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

Nevertire Ltd purchased a delivery van costing $52,000. It is expected to have a residual value of $12,000 at the end of its useful life of 4 years or 200,000 kilometres. Ignore GST. Required: a) Assume the van was purchased on 1 July 2019 and that the accounting period ends on 30 June. Calculate the depreciation expense for the year 2019–20 using each of the following depreciation methods   straight-line  diminishing balance (depreciation rate has been calculated as 31%)  units of production (assume the van was driven 78,000 kilometres during the financial year) b) Record the adjusting entries for the depreciation at 30 June 2021 using diminishing balance method.  c) Show how the van would appear in the balance sheet prepared at the end of year 2 using Straight-line method.       June 1 4 Purchases 9 Sales 12 Purchases 21 Sales 26 Purchases Inventory       all purchases and sales are on credit.

Kingbird Company purchased a truck for $70,300. The company expected the truck to last four years or 100,000 miles, with an estimated residual value of $6,300 at the end of that time. During the second year, the truck was driven 29,000 miles.Compute the depreciation for the second year under each of the methods below. Units-of-activity   $enter a dollar amount  Double-declining-balance   $enter a dollar amount

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Depreciation by Two Methods A Caterpillar tractor acquired on January 12 at a cost of $306,000 has an estimated useful life of 25 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. Round your answer to the nearest cent if rounding is required. First year Second year b. Determine the depreciation for each of the first two years by the double-declining-balance method. Round your answer to the nearest cent if rounding is required. First year Depreciation Second year Depreciation Next