On April 29, 2016, Quality Appliances purchased equipment for $282,000. The estimated service life of the...

On April 29, 2016, Quality Appliances purchased equipment for $282,000. The estimated service life of the equipment is six years and the estimated residual value is $21,000. Quality's fiscal year ends on December 31.

Required:

Calculate depreciation for 2016 and 2017 using each of the three methods listed. Quality calculates partial year depreciation based on the number of months the asset is in service. (Do not round intermediate calculations.)

		2016	2017
1.	Straight-line
2.	Sum-of-the-years’ digits
3.	Double-declining balance

Expert Solution

ekkarill92 answered 1 year ago

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