On January 4, 20x1, Columbus Company purchased new equipment for $510,000 that had a useful life of four years and a salvage value of $42,000. Required: 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, the sum-of-the-years-digits method, and the double-declining balance method. Analyze: if the sum-of-the-years'-digits method is used to compute depreciation, what would be the book value of the asset at the end of 20x2? Complete this question by entering your answers in the tabs below. Double Straight Line Sum of the Years Digits Declining Analyze Balance 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 Year Acquisition Salvage Value Cost Annual Useful Lite Accumulated Depreciation Depreciation 20X1 years 20X2 years 20X3 years On January 4, 20x1, Columbus Company purchased new equipment for $510,000 that had a useful life of four years and a salvage value of $42,000 Required: 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, the sum-of-the-years-digits method, and the double-declining balance method. Analyze: If the sum-of-the-years'-digits method is used to compute depreciation, what would be the book value of the asset at the end of 20X2? Complete this question by entering your answers in the tabs below. Sum of the Double Straight Line Declining Years pigits Analyze Balance 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 Year Cost Less Annual Accumulated Fraction Salvage Depreciation Depreciation 20X1 20X2 20x3 On January 4, 20x1, Columbus Company purchased new equipment for $510,000 that had a useful life of four years and a salvage value of $42,000 Required: 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, the sum-of-the-years'-digits method, and the double-declining balance method. Analyze: If the sum-of-the-years'-digits method is used to compute depreciation, what would be the book value of the asset at the end of 20x2? Complete this question by entering your answers in the tabs below. Sum of the Double Straight Line Years Digits Deklining Analyze Balance 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 Year Beginning Annual Accumulated Book Value Rate Depreciation Depreciation 20X1 20X2 20x3 On January 4, 20x1, Columbus Company purchased new equipment for $510,000 that had a useful life of four years and a salvage value of $42,000 Required: 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, the sum-of-the-years-digits method, and the double-declining-balance method. Analyze: If the sum-of-the-years-digits method is used to compute depreciation, what would be the book value of the asset at the end of 20x2? Complete this question by entering your answers in the tabs below. Double Straight Line Sum of the Years Digits Declining Analyze Balance If the sum-of-the-years-digits method is used to compute depreciation, what would be the book value of the asset at the end of 20X2 Book value