Question
(b) An accountant of HKCC company found the below information of their computer system: Cost basis of the asset, I = ($15,000 + 100 D8)
(b) An accountant of HKCC company found the below information of their computer system: Cost basis of the asset, I = ($15,000 + 100 D8) Useful life, N = 5 years Estimated salvage value, S = less than $1500 Use the double-declining-depreciation method to compute the annual depreciation allowances and the resulting book values for all years in a table form.(Round off your answer to integer.)
(c) A sole proprietor brought a set of office desk and chair for ($10,000 + 100 D8). He expects it can last for 10 years, and estimates selling it out at $200.In the year end, his auditor suggests him to use straight-line method to depreciate that asset.What is the annual depreciation amount?(Round off your answer to integer.) (5 marks)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started