Exercise 11-3

Wildhorse Company purchased a new plant asset on April 1, 2017, at a cost of $874,530. It was estimated to have a service life of 20 years and a salvage value of $73,800. Wildhorses accounting period is the calendar year.

Compute the depreciation for this asset for 2017 and 2018 using the sum-of-the-years'-digits method. (Round answers to 0 decimal places, e.g. 45,892.)

Depreciation for 2017

Depreciation for 2018

Compute the depreciation for this asset for 2017 and 2018 using the double-declining-balance method. (Round answers to 0 decimal places, e.g. 45,892.)

Depreciation for 2017

Depreciation for 2018