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Two charts below need help on them both: Mediocre Corporation purchased new equipment with a cost of $450,000. The salvage value of the equipment was
Two charts below need help on them both:
Mediocre Corporation purchased new equipment with a cost of $450,000. The salvage value of the equipment was estimated to be $10,000. The useful life of the equipment is estimated to be 5 years. Fill in the depreciation schedule below using the double-declining balance method of depreciation Year Cost Book Value, Begin. Deprec. Expense Accum. Deprec. Book Value, Ending - depr exp. =Cost-A/D AD 11 450,000 Select Select Select 1 Select 12 V Select 450,000 Select V Select 1 Select 3 V 450,000 Select Select Select 1 Select 14 450,000 Select Select 1 Select Select 15 450,000 Select Select) Select 110.000 Question 7 1 pts Mediocre Corporation purchased new equipment with a cost of $450,000. The salvage value of the equipment was estimated to be $10,000. The useful life of the equipment is estimated to be 5 years. In year 3, the company determines that the original useful life of the asset was wrong. The revised estimate is now 6 years of useful life. There is no change to the estimated salvage value. Fill in the following depreciation schedule (remember that the first 2 years were calculated assuming a useful life of 5 years. The remaining 4 years will be based on a useful life of 6 years) Year Cost Book Value, Begin Deprec. Expense Accum. Deprec. Book Value, Ending - depr exp. =Cost - A/D 1 1450.000 450,000 88,000 88.000 362,000 2 450,000 362,000 88,000 176,000 274,000 13 450,000 274.000 Select Select 1 Select 4 450,000 Select 1 Select Select ! V Select 1 V 5 450,000 Select 1 Select] Select] Select 16 450,000 Select Select] Select] v 10,000Step by Step Solution
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