Historical cost $$298,000 for a tractor equipment purchased on January 1, 2019. Salvage value of $13,500 for 10 years.

1. Please calculate the straight line depreciation.

2. What is the journal entry?

3. What is the book value ?

4. What is the depreciation using declining balance method?

5. What is the depreciation using sum of years digits?

Question 3 - what is the book in year five

Question 4 & 5 show 10 years of calculation.