Question
Pharoah Company purchased a 777 aircraft on January 1, 2022 at a cost of $41,000,000. The estimated useful life of the aircraft is 20 years,
Pharoah Company purchased a 777 aircraft on January 1, 2022 at a cost of $41,000,000. The estimated useful life of the aircraft is 20 years, with an estimated salvage value of $6,150,000. Compute the accumulated depreciation and book value at December 31, 2022 using the straight-line method and the double-declining-balance method.
| Straight Line Method | Declining Balance | |
| Accumulated Depreciation | $ | $ |
| Book Value | $ | $ |
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Fundamentals Of Oil And Gas Accounting
Authors: Charlotte Wright
6th Edition
9781593703639
