questions 10-12

Q10. If an asset has a useful life of 8 years, what is the Double Declining Rate for this asset? Q11. If an asset has a cost of $105,000, a double declining rate of 40% and $10,000 salvage value, what is Depreciation per year using the Straight Line Method? Q12. An asset was sold for a gain of $62,000 on Jan 1, Year 3 of its life. It S/L Rate of 25%, Salvage value of $17,000 and Accumulated Depreciation of $36,000 as of 12/31/X2. The asset was acquired on 1/1/X1 and is depreciated using the Straight Line Method. What was the assets original cost