Question
Wildhorse Company purchased a new plant asset on April 1, 2020, at a cost of $765,000. It was estimated to have a service life of
Wildhorse Company purchased a new plant asset on April 1, 2020, at a cost of $765,000. It was estimated to have a service life of 20 years and a salvage value of $51,000. Wildhorse accounting period is the calendar year.
New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is partially correct.
Compute the depreciation for this asset for 2020 and 2021 using the sum-of-the-years'-digits method. (Round answers to 0 decimal places, e.g. 45,892.)
Depreciation for 2020 | $ | |
---|---|---|
Depreciation for 2021 | $ |
Compute the depreciation for this asset for 2020 and 2021 using the double-declining-balance method. (Round answers to 0 decimal places, e.g. 45,892.)
Depreciation for 2020 | $ | |
---|---|---|
Depreciation for 2021 | $ |
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