Question
I cannot seem to find the excel formulas needed. I know what the amount of the depreciations should be but i cannot figure out the
I cannot seem to find the excel formulas needed. I know what the amount of the depreciations should be but i cannot figure out the formulas for the correct amount.
At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $52,000. It is expected to have a five-year life and a $7,000 salvage value. $52,000 $ 7,000 5 Required: a-1. Compute the depreciation, assuming that the company uses straight-line depreciation. Straight-line depreciation 59,000 a-2. Compute the depreciation for each of the five years, assuming that the company uses double-declining-balance depreciation. Note: Leave no cells blank - be certain to enter " 0 " wherever required. You may enter the hardcoded number " 2 " when calculating the depreciation expense. Depreciation Expense Year 1 $20,800.00 Year 2 Year 3 Year 4 Year 5
At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $52,000. It is expected to have a five-year life and a $7,000 salvage value. \begin{tabular}{|l|l|l|l|} \hline$52,000 & $7,000 & 5 \\ \hline \end{tabular} Required: a-1. Compute the depreciation, assuming that the company uses straight-line depreciation. Straight-line depreciation $9,000 a-2. Compute the depreciation for each of the five years, assuming that the company uses double-declining-balance depreciation. Note: Leave no cells blank - be certain to enter " 0 " wherever required. You may enter the hardcoded number " 2 " when calculating the depreciation expenseStep by Step Solution
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