Problem 7-71B (Algorithmic) Depreciation Schedules

Dunn Corporation acquired a new depreciable asset for $142,000. The asset has a 5-year expected life and a residual value of zero.

Required:

1. Prepare a depreciation schedule for all 5 years of the asset's expected life using the straight-line depreciation method. If an amount is zero, enter "0".

Dunn Corporation
Straight-Line Depreciation Method
Five Years
End of Year	Depreciation Expense	Accumulated Depreciation	Book Value
			$
Year 1	$	$
Year 2
Year 3
Year 4
Year 5

2. Prepare a depreciation schedule for all 5 years of the asset's expected life using the double-declining-balance depreciation method. Round all answers to the nearest dollar. If an amount is zero, enter "0".

Dunn Corporation
Double-Declining-Balance Depreciation Method
Five Years
End of Year	Depreciation Expense	Accumulated Depreciation	Book Value
Year 1
Year 2
Year 3
Year 4
Year 5