Prepare a complete depreciation schedule, beginning with the current year, under each of the following methods listed (assume that the half-year convention is NOT used):

A1 Straight line (10 points) A2 200 percent declining balance A3 150 percent declining balance, Which of the three methods computed is most common for financial reporting purposes?

Assume Smith and Wilson Inc sells the machine on December 31 of the fourth year, for 700 000 USD. Compute the resulting gain or loss from this sale under each of the depreciation methods used.

Does the gain or loss reported in the companys income statement have any direct impact on cash?