Kingbird AG purchased a new plant asset on April $1,2022,$ at a cost of $954,000.$ It was estimated to have a service life of $20$ years and

a residual value of $78,720.$ Kingbird' accounting period is the calendar year.

$($a$)$

Correct Answer

Your answer is correct.

Compute the depreciation for this asset for $2022$ and $2023$ using the sum$-$of$-$the$-$years'$-$digits method. $($Round answers to $0$ decimal

places, e$.$g$.45,892.)$

Depreciation for $2022$

Depreciation for $2023$

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Solution

Attempts: $2$ of $2$ used

$($b$)$

Compute the depreciation for this asset for $2022$ and $2023$ using the double$-$declining$-$balance method. $($Round answers to $0$

decimal places, e$.$g$.45,892.)$

Depreciation for $2022$

Depreciation for $2023$

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