Question: 3) depreciation method: straight line purchase date 1/1/2010 cost: $ 225,000.00 estimated life: 20 sales price $ 25,000.00 date sold 12/31/2015 a. What is the

3) depreciation method: straight line

purchase date 1/1/2010

cost: $ 225,000.00

estimated life: 20

sales price $ 25,000.00

date sold 12/31/2015

a. What is the depreciation expense for yr 20 using the straightline method?

b. What is the net book value of the equipment at the end of year 15?

c. Calculate gain/loss on sale of equipment.

d. What is the account balance in accumulated depreciation at the end of yr 20?

e. What is the depreciation expense for yr 1 using the double declining method?

f. Assuming the equipment was purchased on June 1, 2010 and sold on 12/31/2015, what is the gain or loss on sale ?

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