Jan 1, 2016. AAA Purchased an equipment (Cost:$20,000, salvage value: $2,000, useful life 5 years) What is the amount of depreciable cost? Suppose that you are using straight line method to calculate depreciation expense. What is the depreciation rate? 1. Complete the table based on stright-line method to calculate depreciation Don't forget to fill all the blanks, including table headings. Computation End of Year Annual Year Depreciation Rate Expense Depreciation Book Value 2. Complete the table based on double declining balance method Computation End of Year Annual on Depreciation Rate : Expense Depreciation Book Value 5. The follwings are disposal, sale, or exchange of a fixed asset Journalize the following transactions a AAA retires its equipment, which cost $30,000. Theis equipment is fully depreciated.Complete the journal entry Debit Credit Date Explanation b. AAA discards a kitchen equipment that cost $20,000 and has accumulated depreciation of $18,000 Debit Credit Date Explanation c AAA sold some furniture and received cash $30,000. The cost of this furniture was $90,000 and had accumulated depreciation of $67,000 Date Explanation Debit Credit d. AAA exchanged old equipment for new equipment. The book value of the old equipment is $30,000 (Cost $80,000, accumulated depreciation S50,000). Its market value is $20,000, and cash of $100,000 has been paid for new equipment Journalyze this transaction Date Explanation Debit Credit e. How much was the gain (or loss) on the above transaction? Gain or loss? Amount