SPRING 2018 ACC2221900 PROF. DAVID KNIGHT This examination consists of five (5) questions, each of equal valu answer the question either on the examination and/or on a separate sheet(s) Sign your name to each sheet of accounting paper and upon completion of the e both your examination and the sheets of accounting paper. WARNING: THIS EXAMINATION IS PRINTED BACKT BOTH SIDES OF THE PAPER). ACCORDINGLY, BE CAREFUL TO YOU HAVE ANSWERED ALL FIVE QUESTIONS. Question 1:Depreciation: Using the fact statement below, compute depreciation e book value for both 2016 and 2017 using cach of the three depreciation methods: st double-declining balance and units-of production. Then answer the ten questions listed belo Fact statement: Cost of Equipment $850,000 Date Purchased1/1/201 Useful Life 5 years Salvage Value $50,000 Total Units of Production 25,000 Units of Production-2016 12,000 Units of Production-2017 6,000 Units of Production-2018 3,000 Units of Production-2019 3,000 Units of Production-2020 1,000 Cost res 1. Using the straight-line method of depreciation, what is the depreciation expense for 2016? 2. Using the straight-line method of depreciation, what is the book value of the equipment at December 31, 2016? Using the straight-line method of depreciation, what is the depreciation expense for 2017