The company treasurer is uncertain which of four depreciation methods the firm should use for office furniture

Question:

The company treasurer is uncertain which of four depreciation methods the firm should use for office furniture that costs $50,000, and has a zero salvage value at the end of a 10-year-depreciable life. Compute the depreciation schedule for the office furniture using the methods listed:

(a) Straight line.

(b) Double declining balance.

(d) Modified accelerated cost recovery system.

Depreciation
Depreciation is an important concept in accounting. By definition, depreciation is the wear and tear in the value of a noncurrent asset over its useful life. In simple words, depreciation is the cost of operating a noncurrent asset producing... Salvage Value
Salvage value is the estimated book value of an asset after depreciation is complete, based on what a company expects to receive in exchange for the asset at the end of its useful life. As such, an asset’s estimated salvage value is an important...