Eastern Press Company of Regina has a fiscal year that ends on June 30 each year. On March 12, 2012, the company purchased a new high-speed printing press at a total cost of $875,000 before GST. The company has a policy that such assets are amortized on a monthly basis commencing the month after they are purchased. While the press is expected to last for 10 years, when it will have a value of $100,000, it is far more likely that it will be made obsolete for Eastern Press Company in four years, when it could be sold for $350,000.

Required
Assuming that the four-year term is the most likely, generate amortization schedules for 2012 through 2016 (that’s 5 fiscal years) for the new press, assuming three methods of amortization:
◆ Straight-line
◆ Double-declining-balance (at two times the straight-line rate)
◆ (Optional) Sum-of-the-years’-digits
Your schedules should clearly show the amortization charged for each year, as well as the net book value at the end of each year.