E11-3B (L01,2) (Depreciation ComputationsSYD, DDBPartial Periods) Bonds Company purchased a new plant asset on April 1, 2017, at a cost of $355,500. It was estimated to have a service life of 20 years and a salvage value of $30,000. Bonds's accounting period is the calendar year.

Instructions

(a) Compute the depreciation for this asset for 2017 and 2018 using the sum-of-the-years'-digits method.

(b) Compute the depreciation for this asset for 2017 and 2018 using the double-declining balance method.