Depreciation Schedules}

Quito Corporation acquired a new depreciable asset for \(\$ 135,000\). The asset has a five-year estimated life and a residual value of zero.

\section*{Required:}

1. Prepare a depreciation schedule for all five years of the asset's estimated life using the straight-line depreciation method.

2. Prepare a depreciation schedule for all five years of the asset's estimated life using the double-declining-balance depreciation method.

3. CONCEPTUAL CONNECTION What questions should be asked about this asset to decide which depreciation method to use?

\section*{OBJECTIVE (3 4) 5 Problem