FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Kingbird AG purchased a new plant asset on April 1, 2022, at a cost of €954,000. It was estimated to have a service life of 20 years and
a residual value of €78,720. Kingbird' accounting period is the calendar year.
(a)
Your Answer Correct Answer
Your answer is correct.
Compute the depreciation for this asset for 2022 and 2023 using the sum-of-the-years-digits method. (Round answers to O decimal
places, e.g. 45,892.)
Depreciation for 2022
Depreciation for 2023 €
(b)
eTextbook and Media
Solution
* Your answer is incorrect.
Compute the depreciation for this asset for 2022 and 2023 using the double-declining-balance method. (Round answers to O
decimal places, e.g. 45,892.)
Depreciation for 2022 €
Depreciation for 2023 €
95400
Attempts: 2 of 2 used
85860
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Transcribed Image Text:Kingbird AG purchased a new plant asset on April 1, 2022, at a cost of €954,000. It was estimated to have a service life of 20 years and a residual value of €78,720. Kingbird' accounting period is the calendar year. (a) Your Answer Correct Answer Your answer is correct. Compute the depreciation for this asset for 2022 and 2023 using the sum-of-the-years-digits method. (Round answers to O decimal places, e.g. 45,892.) Depreciation for 2022 Depreciation for 2023 € (b) eTextbook and Media Solution * Your answer is incorrect. Compute the depreciation for this asset for 2022 and 2023 using the double-declining-balance method. (Round answers to O decimal places, e.g. 45,892.) Depreciation for 2022 € Depreciation for 2023 € 95400 Attempts: 2 of 2 used 85860
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