answer the following questions in lab 5 of business managment

Q1. d por toral On January 1, 2022, you purchased a brand-new skid steer worth 448.000. You expect the skid steer to have a useful life of 16 years, and a salvage value of $10,000. 2. What depreciation method should you use for this asset and why? 3 pts 4. Using the depreciation method you selected, complete a depreciation table for the asset. Be sure to format your table with the appropriate beadings. If you do your table outside of this document, import the values back into this Word document. 5 fos Q2. 8 pts fotal You plan to build a new hay barn that will be completed on Oetober 1. 2022 . The estimated cost of building the hay barn is $60,000. You expect the hay barn to have a salvage value of $0. You expect the hay barn to last 15 years before replacing it. 4. What depreciation method should you use for this asset and why? 3 Pss b. Using the depreciation method you selected, complete a depreciation table for the asset. Be sure to format your table with the appropriate headings. If you do your table outside of this document, import it a Using the depreciation method you selected, complete a depreciation table for the asset. Be sure to format your table with the appropriate headings. If you do your table outside of this document, import it back into this Word document. 5 pts Q3. 14 pts total Suppose you purchased an asset for $12,500. Installation cost $1,700 and shipping cost $650. The asset has a useful life of 6 years and a salvage value of $2,100. a. Using the straight line, sum of years" digits, and double declining depreciation methods, calculate the starting book valuc, annual depreciation, and ending book for the tractor for each year of its useful life. Be sure you make the appropriate adjustment on the double declining method. If you do your table outside of this document, import it back into this Word document, 6pts Now let's compare the three depreciation methods. b. First, let's compare annual depreciation. In the table belos, fill in annual depreciation for each depreciation method for the asset described in Q3. Describe what you observe (i.e. Does armual depreciation vary between methods). 4 pts 1 2 3 4 4 6 c. Now, let's compare total depreciation. In the table below, fill in accumulated depreciation for each depreciation method for the asset described in Q3. Describe what you observe (i.e. Does total accumulated depreciation vary between methods). 4 pts Hint: Accumulated depreciation is the sum of all annual depreciation up to that year. - For example in Year 2, accumulated depreciation = Annual depreciation from Y1 + Annual Depreciation in Y2. - In Year 3, Accumulated Depreciation = Accumulated depreciation from Y2+ Annual Depreciation from Y3 - Continue the pattern throughout the useful life Q1. d por toral On January 1, 2022, you purchased a brand-new skid steer worth 448.000. You expect the skid steer to have a useful life of 16 years, and a salvage value of $10,000. 2. What depreciation method should you use for this asset and why? 3 pts 4. Using the depreciation method you selected, complete a depreciation table for the asset. Be sure to format your table with the appropriate beadings. If you do your table outside of this document, import the values back into this Word document. 5 fos Q2. 8 pts fotal You plan to build a new hay barn that will be completed on Oetober 1. 2022 . The estimated cost of building the hay barn is $60,000. You expect the hay barn to have a salvage value of $0. You expect the hay barn to last 15 years before replacing it. 4. What depreciation method should you use for this asset and why? 3 Pss b. Using the depreciation method you selected, complete a depreciation table for the asset. Be sure to format your table with the appropriate headings. If you do your table outside of this document, import it a Using the depreciation method you selected, complete a depreciation table for the asset. Be sure to format your table with the appropriate headings. If you do your table outside of this document, import it back into this Word document. 5 pts Q3. 14 pts total Suppose you purchased an asset for $12,500. Installation cost $1,700 and shipping cost $650. The asset has a useful life of 6 years and a salvage value of $2,100. a. Using the straight line, sum of years" digits, and double declining depreciation methods, calculate the starting book valuc, annual depreciation, and ending book for the tractor for each year of its useful life. Be sure you make the appropriate adjustment on the double declining method. If you do your table outside of this document, import it back into this Word document, 6pts Now let's compare the three depreciation methods. b. First, let's compare annual depreciation. In the table belos, fill in annual depreciation for each depreciation method for the asset described in Q3. Describe what you observe (i.e. Does armual depreciation vary between methods). 4 pts 1 2 3 4 4 6 c. Now, let's compare total depreciation. In the table below, fill in accumulated depreciation for each depreciation method for the asset described in Q3. Describe what you observe (i.e. Does total accumulated depreciation vary between methods). 4 pts Hint: Accumulated depreciation is the sum of all annual depreciation up to that year. - For example in Year 2, accumulated depreciation = Annual depreciation from Y1 + Annual Depreciation in Y2. - In Year 3, Accumulated Depreciation = Accumulated depreciation from Y2+ Annual Depreciation from Y3 - Continue the pattern throughout the useful life