Question 10 Answer saved Marked out of 48.00 P Flag question Preparing Depreciation Schedules Using Various Depreciation Methods Frito Inc. acquired equipment on January 1, 2020, at a cost of $40,000 that is estimated to have a useful life of five years and a residual value of $10,000. 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 meth&d. Straight-line Sum-of-the-years-digits Double-declining balance a. Straight-Line 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 Dec 31, 2022 0 Dec 31, 2023 0 Dec 31, 2024 0 O O O O O OOOO 0 Previous Save Answers Finish attempt + Mad Preparing Depreciation Schedules Using Various Depreciation Methods Frito Inc. acquired equipment on January 1, 2020, at a cost of $40,000 that is estimated to have a useful life of five years and a residual value of $10,000. 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-theqarars'-digits Double-declining balance 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 $ Dec 31, 2021 Dec 31, 2022 Dec 31, 2023 Dec 31, 2024 0 OOOO OOO Previous Save Answers Finish attempt... 9 Mac Preparing Depreciation Schedules Using Various Depreciation Methods Frito Inc. acquired equipment on January 1, 2020, at a cost of $40,000 that is estimated to have a useful life of five years and a residual value of $10,000. 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 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 S OS 0 0 Dec 31, 2021 0 0 Dec 31, 2022 0 0 Dec. 31.2023 0 0 Dec 31, 2024 0 0 0 OOO OOO 0 0 Previous Save Answers Finish attempt Mac
