Question: On August 3 , Cinco Construction purchased special - purpose equipment at a cost of $ 3 , 3 0 0 , 0 0 0

On August 3, Cinco Construction purchased special-purpose equipment at a cost of $3,300,000. The useful life of the equipment was estimated to be eight years, with an estimated residual value of $40,000.
a. Compute the depreciation expense to be recognized each calendar year for financial reporting purposes under the straight-line depreciation method (half-year convention).
b. Compute the depreciation expense to be recognized each calendar year for financial reporting purposes under the 200 percent declining-balance method (half-year convention) with a switch to straight-line when it will maximize depreciation expense.
c. Which of these two depreciation methods (straight-line or double-declining-balance) results in the highest net income for financial reporting purposes during the first two years of the equipments use?
this is what I have for b so far:
Compute the depreciation expense to be recognized each calendar year for financial reporting purposes under the 200 percent declining-balance method (half-year convention) with a switch to straight-line when it will maximize depreciation expense. (Adjust year 9 depreciation, if necessary, so that the total depreciation expense equals depreciable value of the asset. Do not round intermediate calculations and round your final answers to the nearest whole number.)
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Year 200% Declining-Balance (Half-Year Convention)
1 $412,500
2721,875
3541,406
4406,055
5
6
7
8
9
Totals $2,081,836

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