College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
SUM-OF-THE-YEARS’-DIGITS DEPRECIATION Using the information given in Exercise 5Apx-1B, prepare a depreciation schedule showing the depreciation expense, accumulated depreciation, and book value for each year under the sum-of-the-years’-digits method.
Prepare a depreciation schedule showing the depreciation expense, accumulated depreciation, and book value for each year under the sum-of-the-years’- digits method.
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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