In: Accounting
Question text
Computing
Depreciation Expense.
Equipment costing $580,000, with an expected scrap value of $60,000
and an estimated useful life of 5 years, was purchased on January
1, 2012.
Calculate the depreciation expense for years 2012 to 2016 using: (a) the straight-line method and (b) the double-declining-balance method.
Round to the nearest whole number.
2012 | 2013 | 2014 | 2015 | 2016 | |
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Straight-line depreciation |
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Double-declining balance | |||||
(a) without straight-line switch-over |
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(b) with straight-line switch-over |
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