Problem An equipment was acquired at the cost of $210,000 has an estimated residual value of $24,000 and an estimated useful life of 10

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Problem An equipment was acquired at the cost of $210,000 has an estimated residual value of $24,000 and an estimated useful life of 10 years. It was placed into service on May 1 of the current fiscal year. Which end on December 31st 1. Determine the depreciation for the current year and the following year using: a. Straight-line method Year Depreciable x Rate O Annual Cost (SL) Depreciation Expense x Partial = Year X Year 1 2 b. Double-Declining method Book Value Declining = Balance Rate Annual Depreciation Expense X = Current Year Accumulated Book Depreciation Depreciation Value Expense x Partial = Year Current Year Accumulated Book Depreciation Depreciation Value Expense