On January 4, 2019, Columbus Company purchased new equipment for $693,000 that had a useful life of four years and a salvage value of $53,000. Required: Prepare a schedule showing the annual depreciation and end-of-year accumulated depreciation for the first three years of the assets life under the straight-line method, the sum-of-the-years-digits method, and the double-declining-balance method. Analyze: If the double-declining balance method is used to compute depreciation, what would be the book value of the asset at the end of 2020?

Complete this question by entering your answers in the tabs below. Straight Line Sum of Year Digits Double Declining Analyze Prepare a schedule showing the annual depreciation and end-of-year accumulated depreciation for the first three years of the asset's life under the straight-line method. STRAIGHT-LINE METHOD Salvage Value Useful Life Year or Acquisition Cost Annual Depreciation Accumulated Depreciation 2019 years 2020 years 2021 years Straight Line Sum of Year Digits Double Declining Analyze Prepare a schedule showing the annual depreciation and end-of-year accumulated depreciation for the first three years of the asset's life under the sum-of-the-years'-digits method. SUM-OF-THE-YEARS-DIGITS METHOD Fraction Cost Less Annual Salvage Depreciation Year Accumulated Depreciation 2019 2020 2021 Straight Line Sum of Year Digits Double Declining Analyze - --- Prepare a schedule showing the annual depreciation and end-of-year accumulated depreciation for the first three years of the asset's life under the double-declining-balance method. (Round your Depreciation rate to 2 decimal places i.e., 50% should be entered as 0.50.) DOUBLE-DECLINING-BALANCE METHOD Beginning Annual Book Value Depreciation Year Rate Accumulated Depreciation 2019 2020 2021 Straight Line supporter de Straight Line Sum of Year Digits Double Declining s Anyse Analyze If the double-declining balance method is used to compute depreciation, what would be the book value of the asset at the end of 2020? Book value