Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Part 1 straight line Part 2 sum of the years digits Part 3 double declining balance please please help me with this question three

Part 1 straight line image text in transcribedPart 2 sum of the years digits

image text in transcribedPart 3 double declining balance

image text in transcribed

please please help me with this question " three parts" and show works if you can! thanks!!!

Preparing Depreciation Schedules Using Various Depreciation Methods Frito Inc. acquired equipment on January 1, 2020, at a cost of $20,000 that is estimated to have a useful life of five years and a residual value of $5,000. Required Prepare a depreciation schedule showing annual depreciation expense and year-end accumulated depreciation and book value over the life of the asset using the following methods. a. Straight-line method. b. Sum-of-the-years'-digits method. c. Double-declining-balance method. Straight-line Sum-of-the-years'-digits Double-declining balance Book 0 a. Straight-Line Depreciation Method For the Period End of Period Reporting Depreciation Accumulated Period Expense Depreciation Value Jan. 1, 2020 Dec 31, 2020 $ 0 $ 0 Dec 31, 2021 0 0 Dec 31, 2022 0 0 Dec 31, 2023 0 0 Dec 31, 2024 0 0 0 0 0 0 0 Check Preparing Depreciation Schedules Using Various Depreciation Methods Frito Inc. acquired equipment on January 1, 2020, at a cost of $20,000 that is estimated to have a useful life of five years and a residual value of $5,000. Required Prepare a depreciation schedule showing annual depreciation expense and year-end accumulated depreciation and book value over the life of the asset using the following methods. a. Straight-line method. b. Sum-of-the-years'-digits method. c. Double-declining balance method. Straight-line Sum-of-the-years'-digits Double-declining balance 0 b. Sum-of-the-Years'-Digits Depreciation Method For the Period End of Period Reporting Depreciation Accumulated Book Period Expense Depreciation Value Jan. 1, 2020 $ Dec 31, 2020 $ 0 $ 0 Dec 31, 2021 0 0 Dec 31, 2022 0 0 Dec 31, 2023 0 0 Dec 31, 2024 0 0 0 0 0 0 0 Check Preparing Depreciation Schedules Using Various Depreciation Methods Frito Inc. acquired equipment on January 1, 2020, at a cost of $20,000 that is estimated to have a useful life of five years and a residual value of $5,000. Required Prepare a depreciation schedule showing annual depreciation expense and year-end accumulated depreciation and book value over the life of the asset using the following methods. a. Straight-line method. b. Sum-of-the-years'-digits method. c. Double-declining-balance method. Straight-line Sum-of-the-years'-digits Double-declining balance 0 c. Double-Declining-Balance Depreciation Method For the Period End of Period Reporting Depreciation Accumulated Book Period Expense Depreciation Value Jan 1, 2020 Dec 31, 2020 $ 0 $ 0 Dec 31, 2021 0 0 Dec 31, 2022 0 0 Dec 31, 2023 0 0 Dec 31, 2024 0 0 0 0 0 0 0 Check

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Using Financial Accounting

Authors: Carl S. Warren, Jeff Jones, Amanda Farmer

1st Edition

0357507851, 9780357507858

More Books

Students also viewed these Accounting questions