On January 1, 2018 ABC Company purchased a vehicle for $100,000 cash. The vehicle has a useful life of 5 years with a salvage value of $10,000.

1) 12/31/2021 depreciation expense

2) 12/31/2021 accumulated depreciation

3) 12/31/2021 book value

4) gain or loss amount if asset is sold on 12/31/2021 for $22,000 cash. If no gain or loss, enter 0.

FIXED ASSET TEMPLATE:

INTANGIBLE ASSET TEMPLATE:

NATURAL RESOURCE TEMPLATE:

Asset Cost- Cost of the asset Depreciable Cost Cost - Salvage Value = Straight Line Depreciation Rate = 1/useful life = 1/ 5 years = Depreciation Expense = Depreciable Cost * depreciation rate = Accumulated Depreciation= Sum of depreciation expense for each year Book value = Asset Cost minus accumulated depreciation Date Asset Cost 1/1/2018 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 STRAIGHT LINE DEPRECIATION SCHEDULE Depreciation for the year Depreciable Depreciation Depreciation Cost Rate Expense Accumulated Book Value Depreciation Asset Cost- Cost of the asset Amortizable Cost Cost - Salvage Value = Useful Life = Amortization Rate = 1/useful life = Amortization Expense = Amortizable Cost * amortization rate = Accumulated Amortization=Sum of amortization expense for each year Book value = Asset Cost minus accumulated amortization Amortization for the year Date Asset Amortizable Amortization Amortization Rate Cost Cost Expense 1/1/2018 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 Accumulated Book Value Amortization Asset Cost- Cost of the asset Depletion Cost Cost - Salvage Value = Depletion per unit = Depletion Cost /estimated total units = Depletion Expense = Depletion per unit * # of units extracted = depends on the amount extracted Accumulated Depletion = Sum of depletion expense for each year Book value = Asset Cost minus accumulated depletion Date Asset Depletion for the year Depletion Depletion per unit Units Depletion Accumulated Book Expense Depletion Value Cost Cost Extracted 1/1/2018 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022