Quality Appliances_Three Depreciation Methods_computations
Suppose you work for a construction company that has a contract to build a new bridge across Scorpion Gulch, downstream from the present bridge
July 28, 2020. Did the country participate in the first global economy (provide evidence)?
July 28, 2020Quality Appliances_Three Depreciation Methods_computations
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.
