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Partial-year depreciation Equipment acquired at a cost of $86,000 has an estimated residual value of $5,000 and an estimated useful life of 10 years. It was placed in service on April 1 of the current fiscal year, which ends on December 31. When required, round your answers to two decimal places. a. Determine the depreciation for the current fiscal year and for the following fiscal year by the straight-line method. Year 1 S Year 2 Depreciation Year 2 b. Determine the depreciation for the current fiscal year and for the following fiscal year by the double-declining-balance method. Year 1 $ 6,075 Depreciation S X 12,900 ✓ X

Partial-year depreciation Equipment acquired at a cost of $86,000 has an estimated residual value of $5,000 and an estimated useful life of 10 years. It was placed in service on April 1 of the current fiscal year, which ends on December 31. When required, round your answers to two decimal places. a. Determine the depreciation for the current fiscal year and for the following fiscal year by the straight-line method. Year 1 S Year 2 Depreciation Year 2 b. Determine the depreciation for the current fiscal year and for the following fiscal year by the double-declining-balance method. Year 1 $ 6,075 Depreciation S X 12,900 ✓ X

Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets
Section19.5: Declining-balance Method Of Depreciation
Problem 1OYO
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Partial-year depreciation Equipment acquired at a cost of $86,000 has an estimated residual value of $5,000 and an estimated useful life of 10 years. It was placed in service on April 1 of the current fiscal year, which ends on December 31. When required, round your answers to two decimal places. a. Determine the depreciation for the current fiscal year and for the following fiscal year by the straight-line method. Year 1 S Year 2 Depreciation Year 2 b. Determine the depreciation for the current fiscal year and for the following fiscal year by the double-declining-balance method. Year 1 $ 6,075 Depreciation S X 12,900 ✓ X
Transcribed Image Text:Partial-year depreciation Equipment acquired at a cost of $86,000 has an estimated residual value of $5,000 and an estimated useful life of 10 years. It was placed in service on April 1 of the current fiscal year, which ends on December 31. When required, round your answers to two decimal places. a. Determine the depreciation for the current fiscal year and for the following fiscal year by the straight-line method. Year 1 S Year 2 Depreciation Year 2 b. Determine the depreciation for the current fiscal year and for the following fiscal year by the double-declining-balance method. Year 1 $ 6,075 Depreciation S X 12,900 ✓ X
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