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Use the​ sum-of-the-years'-digits depreciation method to make a depreciation schedule​ (first two​ years) for a forklift that cost ​$31,000​, has an expected useful life of ten​ years, and has a residual value of ​$2,600. Complete the following table for two years. Enter the depreciation rate as a fraction. Enter annual​ depreciation, accumulated​ depreciation, and​ end-of-year book value as decimals rounded to the nearest cent.   Year Depreciation rate Annual depreciation Accumulated depreciation ​End-of-year book value   1 enter your response here ​$enter your response here ​$enter your response here ​$enter your response here   Part 2

Use the​ sum-of-the-years'-digits depreciation method to make a depreciation schedule​ (first two​ years) for a forklift that cost ​$31,000​, has an expected useful life of ten​ years, and has a residual value of ​$2,600. Complete the following table for two years. Enter the depreciation rate as a fraction. Enter annual​ depreciation, accumulated​ depreciation, and​ end-of-year book value as decimals rounded to the nearest cent.   Year Depreciation rate Annual depreciation Accumulated depreciation ​End-of-year book value   1 enter your response here ​$enter your response here ​$enter your response here ​$enter your response here   Part 2

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
Section: Chapter Questions
Problem 1CP
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Use the​ sum-of-the-years'-digits depreciation method to make a depreciation schedule​ (first two​ years) for a forklift that cost ​$31,000​, has an expected useful life of ten​ years, and has a residual value of ​$2,600.

Complete the following table for two years. Enter the depreciation rate as a fraction. Enter annual​ depreciation, accumulated​ depreciation, and​ end-of-year book value as decimals rounded to the nearest cent.
 
Year
Depreciation rate
Annual depreciation
Accumulated depreciation
​End-of-year book value
 
1
enter your response here
​$enter your response here
​$enter your response here
​$enter your response here
 
Part 2
2
enter your response here
​$enter your response here
​$enter your response here
​$enter your response here
  
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