Quality Appliances_Three Depreciation Methods_computations

$14.00

Description

On April 29, 2013, Quality Appliances purchased equipment for $260,000. The estimated service life of the equipment is six years and the estimated residual value is $20,000. Quality’s fiscal year ends on December 31.

Required:
Calculate depreciation for 2013 and 2014 using each of the three methods listed. Quality calculates partial year depreciation based on the number of months the asset is in service. Round all computations to the nearest dollar.

1. Straight-line.

2. Sum-of-the-years’ digits.

3. Double-declining balance.

Reviews

There are no reviews yet.

Be the first to review “Quality Appliances_Three Depreciation Methods_computations”

Your email address will not be published. Required fields are marked *