Accounting Lab

Straight-Line Depreciation A building acquired at the beginning of the year at a cost of $106,100 has an estimated residual value of $4,100 and an estimated useful life of 10 years. Determine the following: (a) The depreclable cost (b) The straightline rate "In SUE (c) The annual straight-line depreciation Units-ofactivity Depreciation A truck acquired at a cost of $400,000 has an estimated residual value of $22,800, has an estimated useful life of 41,000 miles, and was driven 3,300 miles during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places. (a) The depreciable cost $ (b) The depreciation rate $ per mile HUM (c) The units-ofactivity depreciation for the year $ Double-Declining-Balance Depreciation A building acquired at the beginning of the year at a cost of $110,400 has an estimated residual value of $4,400 and an estimated useful life of four years. Determine the following. (a) The double-declining-balance rate (b) The double-declining-balance depreciation for the rst year Q % Revision of Depreciation Equipment with a cost of $706,000 has an estimated residual value of $70,000, has an estimated useful life of 15 years, and is depreciated by the straight-line method. a. Determine the amount of the annual depreciation. S H b. Determine the book value after 10 full years of use. $ U c. Assuming that at the start of the year 11 the remaining life is estimated to be 11 years and the residual value is estimated to be $70,800, determine the depreciation expense for each of the remaining 11 years. $ U Partial-Year Depreciation Equipment acquired at a cost of $82,000 has an estimated residual value of $5,000 and an estimated useful life of 10 years. It was placed in service on October 1 of the current fiscal year, which ends on December 31. If necessary, round your answers to the nearest cent. a. Determine the depreciation for the current fiscal year and for the following fiscal year by the straight-line method. Depreciation Year 1 Year 2 b. Determine the depreciation for the current fiscal year and for the following fiscal year by the double-declining-balance method. Depreciation Year 1 Year 2