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Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

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BuyFindarrow_forward

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

Complete Exercises 11 -16 as they relate to the sum-of-the-years' digits method of depreciation.

Useful Life Sum-of-the- Depreciation Rate Fraction
(years) Years’ Digits Year 1 Year 3 Year 5

7 ________ _______ ________ ______

To determine

To calculate: The sum-of-the-years’ digits and depreciation rate fraction for year 1, year 3 and year 5 when the useful life is 7 years.

Explanation

Given Information:

The useful life is 7 years.

Formula used:

Sum-of-the-years’ digit is given by:

Sumofyears' digit=Sum of digits of estimated life

The formula of SYD depreciation rate fraction is given by:

The SYD depreciation rate fraction=Years of useful life remainingn(n+1)2

Where n is the number of years of useful life of the asset.

Calculation:

The provided useful life is 7 years.

The Sum-of-the-years’ digit is:

Sumofyears' digit=Sum of digits of estimated life

Now, using the above formula, the Sum-of-the-years’ digit is:

Sumofyears' digit=7+6+5+4+3+2+1=28

The SYD depreciation rate fraction is:

The SYD depreciation rate fraction=Years of useful life remainingn(n+1)2

Now, using the above formula, the SYD depreciation rate fraction for year 1 is:

The SYD depreciation rate fraction(year 1)=77(7+1)2=

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