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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

SUM-OF-THE-YEARS'-DIGITS DEPRECIATION Using the information given in Exercise 5Apx-lA, prepare a depreciation schedule showing the depreciation expense, accumulated depreciation, and book value for each year under the sum-of-the-years’-digits method.

To determine

Prepare a depreciation schedule showing the depreciation expense, accumulated depreciation, and book value for each year under the sum-of-the-years’- digits method.

Explanation

Depreciation:

Depreciation is a method of reducing the capitalized cost of long-lived operating assets or plant assets for the period the asset is used.

Prepare a depreciation schedule showing the depreciation expense, accumulated depreciation, and book value for each year under the sum-of-the-years’- digits method.

(Figure 1)

Excel Workings:

(Figure 2)

Working Notes:

(1) Calculate the depreciable cost:

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