Calculate the depreciation on an asset that originally cost $700,000, has a salvage value of...

Question

Calculate the depreciation on an asset that   originally cost $700,000, has a salvage value of $70,000                and   an estimated useful life of 7 years.                                                                                You   only need to record the FIRST 4 years using each method                            SHOW   YOUR CALCULATIONS. YOU DO NOT NEED TO SHOW EXCEL FORMULAS JUST HOW YOU   ARRIVED AT YOUR ANSWERS

Kiran · Accepted Answer

Sheet1
												Template #8
												Spring 2019
	Calculate the depreciation on an asset that originally cost $700,000, has a salvage value of $70,000
	and an estimated useful life of 7 years.
	You only need to record the FIRST 4 years using each method
	SHOW YOUR CALCULATIONS. YOU DO NOT NEED TO SHOW EXCEL FORMULAS JUST HOW YOU ARRIVED AT YOUR ANSWERS
	STRAIGHT LINE									SHOW YOUR WORK HERE
			YEAR1	$90,000						Cost of Asset			$700,000
			YEAR 2	$90,000						Less: Salvage value			$70,

Calculate the depreciation on an asset that originally cost $700,000, has a salvage value of $70,000 and an estimated useful life of 7 years. You only need to record the FIRST 4 years using each...

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