depreciation

D IMI M Merge & Center $ % Conditional Formatting A 814 Ax fx B G 1 Instructions on January 1, 2018, Doofenshirt Evil Incorporated purchased an Accounting inator. This piece of equipment was bought to help takeover the Tri-State Area 2 Doofenshmirtzi Incorporated bought the equipment for $200,000. The equipment is expected to last five years, but it will be completely unusable after its life and have a so salvage 3 value thanks to Perry the Platypus) For tax purposes Doofenshmitzwants use the depreciation method that leads to the higher expense in 2020. Complete both of the tables and 4 determine which method Doofenshmirt should use H Depreciation Straight-Line Depreciation Schedule Accumulated Depreciation $ Accounting-inator Facts Cost of Equipment Estimated Salvage Value Estimated Useful Life Year 2018 2019 2020 2021 2022 $240,000 $0 5 S $ $ $ $ Book Value 240.000 240,000 240,000 240,000 240,000 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 25 27 23 39 30 31 32 Year Book Value 2018 $240.000 2019 $ 240.000 2020 $ 240,000 20215 240,000 2022 5 240,000 Double Declining Balance Depreciation Schedule Rote Depreciation Exp $ $ $ $ $ Accumulated Depreciation $ $ $ $ $ 2020 Depreciation Experie Straight-Line Method Double Dedining Balance Method Method Chesen: Equipment Value Accumulated Depreciation 12/31/2020 $240,000 14 15 36 37 38