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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Hi I'm not sure where I'm going wrong please help
![Required information
Schedule
Computation
Calculate annual depreciation expenses using double-declining-balance method.
Depreciation for the Period
End of Period
Beginning
of Period
Book
Value
Depreciation
Rate
Book
Value
Annual
Accumulated
Year
Depreciation
Depreciation
Year
$ 256,400
40%
%24
102,560
2$
102,560
$ 153,840
Year
153,840
40%
61,531
164,091 8
92,309
Year
3.
Year
4
92,309 X
40%
36,920
201,011 X
55,389 X
55,389
40%
22,151
223,162 X
33,238
Year
33,238
40%
13,300 X
236,462
19,938
Total
$24
236,462
Deprecistion Schedule
Income Computation >
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近](https://content.bartleby.com/qna-images/question/f41edff2-9274-45e5-8399-bad91beced08/f223556d-1894-4d1c-a005-623de1f4f0e2/e43bd8d_thumbnail.jpeg)
Transcribed Image Text:Required information
Schedule
Computation
Calculate annual depreciation expenses using double-declining-balance method.
Depreciation for the Period
End of Period
Beginning
of Period
Book
Value
Depreciation
Rate
Book
Value
Annual
Accumulated
Year
Depreciation
Depreciation
Year
$ 256,400
40%
%24
102,560
2$
102,560
$ 153,840
Year
153,840
40%
61,531
164,091 8
92,309
Year
3.
Year
4
92,309 X
40%
36,920
201,011 X
55,389 X
55,389
40%
22,151
223,162 X
33,238
Year
33,238
40%
13,300 X
236,462
19,938
Total
$24
236,462
Deprecistion Schedule
Income Computation >
< Prev
3 of 4
Next >
re to search
a
近
![B HW Problems i
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Required information
[The following information applies to the questions displayed below.]
Tory Enterprises pays $256,400 for equipment that will last five years and have a $45,400 salvage value. By using the
equipment in its operations for five years, the company expects to earn $90,300 annually, after deducting all expenses
except depreciation.
Calculate annual depreciation expenses using double-declining-balance method.
Prepare a table showing income before depreciation, depreciation expense, and net (pretax) income for each year and for the total
five-year period, assuming double-declining-balance depreciation.
Answer is complete but not entirely correct.
Complete this question by entering your answers in the tabs below.
Depreciation
Schedule
Income
Computation
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a.
65°F A](https://content.bartleby.com/qna-images/question/f41edff2-9274-45e5-8399-bad91beced08/f223556d-1894-4d1c-a005-623de1f4f0e2/4u9vw6y_thumbnail.jpeg)
Transcribed Image Text:B HW Problems i
Saved
Help
Save & Ex
Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion.
Return t
!
Required information
[The following information applies to the questions displayed below.]
Tory Enterprises pays $256,400 for equipment that will last five years and have a $45,400 salvage value. By using the
equipment in its operations for five years, the company expects to earn $90,300 annually, after deducting all expenses
except depreciation.
Calculate annual depreciation expenses using double-declining-balance method.
Prepare a table showing income before depreciation, depreciation expense, and net (pretax) income for each year and for the total
five-year period, assuming double-declining-balance depreciation.
Answer is complete but not entirely correct.
Complete this question by entering your answers in the tabs below.
Depreciation
Schedule
Income
Computation
< Prev
3 of 4
Next >
search
a.
65°F A
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