Use the Q$3$ tab to calculate the accumulated depreciation balance after $8$ years. Accumulated depreciation should be recorded as a negative number.

Transaction #$1$ in Year $1$:

Purchase asset for $$60,000$; $$0$ Salvage Value; $3-$year useful life. Scrap asset $($throw away$)$ in Year $6.$

Transaction #$2$ in Year $3$:

Purchase asset for $$50,000$; $$0$ Salvage Value; $5-$year useful life. Keep asset on books and do not throw away.