1 YOUR NAME: 2 Asset # 3 Asset name: 4 Date acquired: 5 Cost: 6 Depreciation...

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1 YOUR NAME: 2 Asset # 3 Asset name: 4 Date acquired: 5 Cost: 6 Depreciation method: 7 Salvage (residual) value: 8 Estimated useful life (years): 9 222 Computer 1/1/2018 $50,000 Straight Line (SL) $5,000 5 10 Depreciation Schedule - Straight-Line Method 11 12 Year Annual Depreciation 13 14 2018 15 2019 16 2020 17 2021 18 2022 10 Accumulated Book Value Depreciation A B YOUR NAME: Asset # Asset name: Date acquired: Cost: Depreciation method: Salvage (residual) value: Estimated useful life (miles): 222 Truck 1/1/2018 $50,000 Units-of-Production $5,000 100,000 Depreciation Schedule - Units-of-Production Method Year Miles Driven 2018 12,000 2019 17,000 2020 26,000 2021 18,000 2022 27,000 0 E Depreciation Expense Accumulated Depreciation Book Value 1 YOUR NAME: 2 Asset # 3 Asset name: 4 Date acquired: 5 Cost: 6 Depreciation method: 7 Salvage (residual) value: 8 Estimated useful life (years): 9 222 Equipment 1/1/2018 $50,000 Double-Declining-Balance $5,000 5 E G 10 11 Depreciation Schedule- Double Declining Balance 12 Current Period End of Period 13 Year Beginning Book Value DDB Rate 14 Annual Depreciation Accumulated Depreciation Ending Book Value 15 2018 16 2019 $0 17 2020 $0 18 2021 $0 19 2022 $0 20 21 1 Your name: 2 Asset # A B C D 3 Asset name: 4 Date acquired: 5 Cost: 6 Depreciation method: 7 Salvage (residual) value: 8 Estimated useful life (years): 9 222 Equipment 1/1/2018 $50,000 Sum of the year's digits $5,000 5 Ш F G 10 11 Depreciation Schedule- Sum of the year's digits 2 Current Period End of Period 13 14 34 Year Remaining Years Remaining Years/ Sum of the Years Annual Accumulated Ending Book Value Depreciation Depreciation 15 16 2018 17 67 2019 2020 18 2021 19 2022 20 21 A After calculating depreciation under each of the four methods provided, include a statement to address: (1) which of the 4 methods created the greatest tax savings in the first year, (2) will your answer in (1) always be the same and (3) explain your answer in (2). Include your statement within this excel file. Try to limit your explanation to less than 150 words. B 1 YOUR NAME: 2 Asset # 3 Asset name: 4 Date acquired: 5 Cost: 6 Depreciation method: 7 Salvage (residual) value: 8 Estimated useful life (years): 9 222 Computer 1/1/2018 $50,000 Straight Line (SL) $5,000 5 10 Depreciation Schedule - Straight-Line Method 11 12 Year Annual Depreciation 13 14 2018 15 2019 16 2020 17 2021 18 2022 10 Accumulated Book Value Depreciation A B YOUR NAME: Asset # Asset name: Date acquired: Cost: Depreciation method: Salvage (residual) value: Estimated useful life (miles): 222 Truck 1/1/2018 $50,000 Units-of-Production $5,000 100,000 Depreciation Schedule - Units-of-Production Method Year Miles Driven 2018 12,000 2019 17,000 2020 26,000 2021 18,000 2022 27,000 0 E Depreciation Expense Accumulated Depreciation Book Value 1 YOUR NAME: 2 Asset # 3 Asset name: 4 Date acquired: 5 Cost: 6 Depreciation method: 7 Salvage (residual) value: 8 Estimated useful life (years): 9 222 Equipment 1/1/2018 $50,000 Double-Declining-Balance $5,000 5 E G 10 11 Depreciation Schedule- Double Declining Balance 12 Current Period End of Period 13 Year Beginning Book Value DDB Rate 14 Annual Depreciation Accumulated Depreciation Ending Book Value 15 2018 16 2019 $0 17 2020 $0 18 2021 $0 19 2022 $0 20 21 1 Your name: 2 Asset # A B C D 3 Asset name: 4 Date acquired: 5 Cost: 6 Depreciation method: 7 Salvage (residual) value: 8 Estimated useful life (years): 9 222 Equipment 1/1/2018 $50,000 Sum of the year's digits $5,000 5 Ш F G 10 11 Depreciation Schedule- Sum of the year's digits 2 Current Period End of Period 13 14 34 Year Remaining Years Remaining Years/ Sum of the Years Annual Accumulated Ending Book Value Depreciation Depreciation 15 16 2018 17 67 2019 2020 18 2021 19 2022 20 21 A After calculating depreciation under each of the four methods provided, include a statement to address: (1) which of the 4 methods created the greatest tax savings in the first year, (2) will your answer in (1) always be the same and (3) explain your answer in (2). Include your statement within this excel file. Try to limit your explanation to less than 150 words. B

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1 Which of the 4 depreciation methods created the greatest tax savings in the first year The double ... View the full answer