FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Prepare the depreciation schedule, using the declining-balance method (twice the straight-line rate).
Note: Input all amounts as positive values. Leave no cells blank - be certain to enter "0" wherever required.
Chevrolet Colorado
Residual value
Estimated life
End of year 1
End of year 2
End of year 3
End of year 4
Cost of Chevy
truck
$ 25,000
$ 5,000
5 years
Accumulated
depreciation at
Book value at
beginning of year beginning of year
Depreciation
expense for year
Accumulated
depreciation at
end of year
Book value at
end of year
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Transcribed Image Text:Prepare the depreciation schedule, using the declining-balance method (twice the straight-line rate). Note: Input all amounts as positive values. Leave no cells blank - be certain to enter "0" wherever required. Chevrolet Colorado Residual value Estimated life End of year 1 End of year 2 End of year 3 End of year 4 Cost of Chevy truck $ 25,000 $ 5,000 5 years Accumulated depreciation at Book value at beginning of year beginning of year Depreciation expense for year Accumulated depreciation at end of year Book value at end of year
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