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On July 1, 2020, Yorkton Company purchased for $438,000 equipment having an estimated useful life of five years with an estimated residual value of $22.000.
On July 1, 2020, Yorkton Company purchased for $438,000 equipment having an estimated useful life of five years with an estimated residual value of $22.000. Depreciation is calculated to the nearest month. The company has a December 31 year-end. Required: Complete the following schedules: (Amount to be deducted should be indicated by a minus sign) 2020 2021 2022 1 Double-declining balance method: Equipment Less: Accumulated depreciation Year-end book value Depreciation expense for the year $ 0 $ OS 0 2. Straight-line method: Equipment Less: Accumulated depreciation Year-end book value Depreciation expense for the year $ ols 0 $ 0 Next > 21 of 26
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