question archive A refrigerator used by a wholesale warehouse has a cost of $66,700, an estimated residual value of $5,100, and an estimated useful life of 14 years
A refrigerator used by a wholesale warehouse has a cost of $66,700, an estimated residual value of $5,100, and an estimated useful life of 14 years
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A refrigerator used by a wholesale warehouse has a cost of $66,700, an estimated residual value of $5,100, and an estimated useful life of 14 years.
What is the amount of the annual depreciation computed by the straight-line method?
$fill in the blank 1
Depreciation by Two Methods
A computer system acquired on January 1 at a cost of $72,000 has an estimated useful life of ten years. Assuming that it will have no residual value.
a. Determine the depreciation for each of the first two years by the straight-line method.
First YearSecond Year$fill in the blank 1
$fill in the blank 2
b. Determine the depreciation for each of the first two years by the double-declining-balance method. Do not round the double-declining balance rate. If required, round your final answers to the nearest dollar.
First YearSecond Year$fill in the blank 3
$fill in the blank 4
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STRAIGHT LINE DEPRECIATION METHOD
Annual Depreciation = $4,400
Depreciation by Two Methods
a) Straight line method
- Year 1 = $7,200
- Year 2 = $7,200
b) Double declining balance method
- Year 1 = $14,400
- Year 2 = $11,520
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