Question: Double Declining Balance Depreciation Straight Line Method Year 1 Year 2 Year 3 Year 1 Year 2 Year 3 Beginning Value $35,0000 $35,000 $25,000 $15,000
| Double Declining Balance Depreciation | Straight Line Method | ||||||
| Year 1 | Year 2 | Year 3 | Year 1 | Year 2 | Year 3 | ||
| Beginning Value | $35,0000 | $35,000 | $25,000 | $15,000 | |||
| Depreciation Expense | $10,000 | $10,000 | $10,000 | ||||
| Ending Value | $25,000 | $15,000 | $5,000 | ||||
| Assumptions | |||||||
| Useful Life (year) | 3 | ||||||
| Residual (salvage) Value | $5,000 | ||||||
| SLM Rate | 33% |
I need some assistance to make sure the calculations I have for the Double Declining Depreciation Method are Correct
Beginning Value = 35,000
Salvage Value = $5,000
Useful life (Year) = 3
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