For each of the following fixed assets, determine the depreciation expense for Year 3: Disposal date...

 

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For each of the following fixed assets, determine the depreciation expense for Year 3: Disposal date is N/A if asset is still in use. Method: SL = Straight-Line; DDB = Double Declining Balance Assume the estimated life is 5 years for each asset. Item Cost Residual Value Purchase Date Disposal Date Depreciation Method Depreciation Expense Year 3 A $40,000 $4,000 July 1, Year 3 N/A SL B $50,000 $5,000 Jan. 1, Year 1 Aug. 31,Year 3 SL $60,000 $2,000 Oct. 1, Year 3 N/A DDB 24 $80,000 $10,000 Jan. 1, Year 2 April 1, Year 3 DDB For each of the following fixed assets, determine the depreciation expense for Year 3: Disposal date is N/A if asset is still in use. Method: SL = Straight-Line; DDB = Double Declining Balance Assume the estimated life is 5 years for each asset. Item Cost Residual Value Purchase Date Disposal Date Depreciation Method Depreciation Expense Year 3 A $40,000 $4,000 July 1, Year 3 N/A SL B $50,000 $5,000 Jan. 1, Year 1 Aug. 31,Year 3 SL $60,000 $2,000 Oct. 1, Year 3 N/A DDB 24 $80,000 $10,000 Jan. 1, Year 2 April 1, Year 3 DDB

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ans 1 straight line method Year Beginning bal Depreciation exp Accumulat... View the full answer