Question: Complete the form below by determining the depreciation expense and year-end book values for 2010 and 2011 using the 1. sum-of-the-years'-digits method. 2. double-declining balance
Complete the form below by determining the depreciation expense and year-end book values for 2010 and 2011 using the 1. sum-of-the-years'-digits method. 2. double-declining balance method. Sum-of-the-Years'-Digits Method 2010 2011 Equipment $2,160,000 $2,160,000 Less: Accumulated Depreciation Year-End Book Value Depreciation Expense for the Year Double-Declining Balance Method Equipment $2,160,000 $2,160,000 Less: Accumulated Depreciation Year-End Book Value Depreciation Expense for the Year (b) Assume the company had used straight-line depreciation during 2010 and 2011. During 2012, the company determined that the equipment would be useful to the company for only one more year beyond 2012. Salvage value is estimated at $120,000. Compute the amount of depreciation expense for the 2012 income statement
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