Question: pease solve in excel with explanation and formula Problem 134 On July 1, 2017, Sport Company purchased for $3,600,000 snow-making equipment having an estimated useful
Problem 134 On July 1, 2017, Sport Company purchased for $3,600,000 snow-making equipment having an estimated useful life of 5 years with an estimated salvage value of $150,000. Depreciation is taken for the portion of the year the asset is used. Complete the form below by determining the deprediation expense and year-end book values for 2017 and 2018 using the 1. sum-of-the-years-digits method. 2. double-declining balance method. 2017 2018 Sum-of-the-Years'-Digits Method Equipment $3,600,000 $3,600,000 Less: Accumulated Deprediation 575000 $ 1610000 $ Year-End Book Value 3025000 1990000 Depreciation Expense for the Year 575000 1035000 Double-Declining Balance Method Equipment $3,600,000 $3,600,000 Less: Accumulated Depreciation 720000$ 1872000 Year-End Book Value 2880000 1728000 Depreciation Expense for the Year 720000 1152000 Assume the company had used straight-line depreciation during 2017 and 2018. During 2019, the company determined that the equipment would be useful to the company for only one more year beyond 2019. Salvage value is estimated at $200,000. Compute the amount of depreciation expense for the 2019 income statement. Depreciation expense Assume the company had used straight-line depreciation during 2017 and 2018. During 2019, the company determined that the equipment would be useful to the company for only one more year beyond 2019. Salvage value is estimated at $200,000. What is the depreciation base of this asset? Depreciation base W 24
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