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Consider the purchase of a new grain bin for Green Acres Farm. The specific information is: Purchase price = $300,000.00 Useful life = 5 years
Consider the purchase of a new grain bin for Green Acres Farm. The specific information is:
Purchase price = $300,000.00
Useful life = 5 years
Purchase date is Jan 1, 2018
Salvage value = $75,000.00
Complete the numbered spaces in the following table using the 150% declining balance method.
year | Remaining value at the beginning of the year | depreciation | remaining value at the end of the year |
2018 | ______ | ________ | |
2019 | |||
2020 | ________ | ||
2021 | |||
2022 | ________ | _____________ | |
2023 | ________ |
Complete the numbered spaces in the following table usingthe 150% declining balnmce MACRS method.
year | remaining value at beginning of year | depreciation | remaining value at end of year |
2018 | ____________ | _________ | |
2019 | |||
2020 | _________ | ||
2021 | |||
2022 | _________ | _______________ | |
2023 | _________ |
Table 7-2. 150% Declining Balance Method (Half-Year Convention) Year 3-Year-5-Year 7-Year 20-Year 25.046 15.00% 10.71% 3 750% 37.5 25.50 19 13 7 219 25.017.85 15.03 6.677 12.5 16.66 12 25 6. 177 10.66 12 25 5.713 12 25 5.285 4 888 6,13 4.522 nh 0
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