Date of purchase 1 January 20X3 Cost $236,900 Salvage or residual value $20,000 Useful life 5 years Depreciation method Straight-line 1. For the years ending 31 December 20X3 and 20X4, using the straight-line method, calculate the: a. depreciation expense, b. accumulated depreciation and c. carrying amount of the asset at the end of each year.

Requirement 2: Diminishing balance Date of purchase 1 January 20X3 Cost $236,900 Salvage or residual value $20,000 Useful life 5 years Depreciation method Rate= 2 x straight-line Diminishing- balance 2. For the years ending 30 June 20X3 and 20X4; using the diminishing balance method rate= double straight-line, calculate the: a. depreciation expense, b. accumulated depreciation and c. carrying amount of the asset at the end of each year.

Please explain a Step by step process i cannot understand the process