1. A company purchased a new auto on January 1, 2021 for $18,000. The taxes paid...

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1. A company purchased a new auto on January 1, 2021 for $18,000. The taxes paid to import the car amounted to $2,000. The company expects to use the auto for 3 years. The residual value is $2,000. a. Complete the following depreciation table assuming straight-line depreciation: Accumulated Depreciation, End of Year End of Year 1 2 3 Cost of Auto Depreciation Expense Net Book Value, End of Year b. Calculate the same table assuming double declining-balance method. c. Journalize and post the first two years of depreciation (using the double declining- balance method). 1. A company purchased a new auto on January 1, 2021 for $18,000. The taxes paid to import the car amounted to $2,000. The company expects to use the auto for 3 years. The residual value is $2,000. a. Complete the following depreciation table assuming straight-line depreciation: Accumulated Depreciation, End of Year End of Year 1 2 3 Cost of Auto Depreciation Expense Net Book Value, End of Year b. Calculate the same table assuming double declining-balance method. c. Journalize and post the first two years of depreciation (using the double declining- balance method).

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