Depreciation by Two Methods A Kubota tractor acquired on January 8 at a cost of $85,000 has an estimated useful life of 10 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. Second Year First Year b. Determine the depreciation for each of the first two years by the double-declining-balance method. First Year Second Year
Depreciation by Two Methods A Kubota tractor acquired on January 8 at a cost of $85,000 has an estimated useful life of 10 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. Second Year First Year b. Determine the depreciation for each of the first two years by the double-declining-balance method. First Year Second Year
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter11: Depreciation, Depletion, Impairment, And Disposal
Section: Chapter Questions
Problem 5MC: A machine with a 4-year estimated useful life and an estimated 15% residual value was acquired on...
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I got the correct answer for first-year problem A) 8500/ second year 8500
Problem B i had first year 1700 but the second year i had 16150 not sure if it is correct
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