Complete the following depreciation table using the declining-balance method (twice straight-line rate). Auto: $26,000 &nbsp

Complete the following depreciation table using the declining-balance method (twice straight-line rate).

Auto: $26,000 Estimated life: 10 years Residual value: $600

End of Cost of Acc. depr. Book value Annual Depr. Acc. depr. Book value

Year asset B.O.Y B.O.Y. Expense E.O.Y. E.O.Y.

1

2

3

4

5

6

7

8

9

10

11

Expert Solution

	Double Declining Balance Method
	Cost of Assets	$ 26,000.00
	Salvage Value	$ 600.00
	Estimated Useful life	10	Years
	Depreciation Rate=	(1/useful life)*200%
	Depreciation Rate=	0.1
	Double Declining Rate	0.2
	Double Declining Rate	20.00%
			(A)=(C )*20%	(B)	(C )
Year	Cost	Depreciation Rate	Depreciation	Accumulated Depreciation	Book Value
1	$ 26,000.00	20.00%	$ 5,200.00	$ 5,200.00	$ 20,800.00
2		20.00%	$ 4,160.00	$ 9,360.00	$ 16,640.00
3		20.00%	$ 3,328.00	$ 12,688.00	$ 13,312.00
4		20.00%	$ 2,662.40	$ 15,350.40	$ 10,649.60
5		20.00%	$ 2,129.92	$ 17,480.32	$ 8,519.68
6		20.00%	$ 1,703.94	$ 19,184.26	$ 6,815.74
7		20.00%	$ 1,363.15	$ 20,547.40	$ 5,452.60
8		20.00%	$ 1,090.52	$ 21,637.92	$ 4,362.08
9		20.00%	$ 872.42	$ 22,510.34	$ 3,489.66
10		20.00%	$ 697.93	$ 23,208.27	$ 2,791.73

jeff jeffy answered 8 months ago

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