A company recently paid $1,500,000 to buy a building with an estimated useful li

Question

A company recently paid $1,500,000 to buy a building with an estimated useful life of 20 years and a salvage value of $25,000. Prepare a depreciation schedule for the first 10 (TEN) years of the assets life using the double-declining-balance depreciation method. A company recently paid $1,500,000 to buy a building with an estimated useful life of 20 years and a salvage value of $25,000. Prepare a depreciation schedule for the first 10 (TEN) years of the assets life using the double-declining-balance depreciation method.

Explanation / Answer

"It would be appreciated if you give your feedback"

Year Book Value in Beginning Depreciation Percent Depreciation Expense Accumulated Depreciation Book Value at the end 1 $1,500,000 10% $150,000 $150,000 $1,350,000 2 $1,350,000 10% $135,000 $285,000 $1,215,000 3 $1,215,000 10% $121,500 $406,500 $1,093,500 4 $1,093,000 10% $109,350 $515,850 $984,150 5 $984,150 10% $98,415 $614,285 $885,735 6 $885,735 10% $88,574 $702,839 $797,162 7 $797,162 10% $79,716 $782,555 $717,445 8 $717,445 10% $71,745 $854,299 $645,701 9 $645,701 10% $64,570 $918,869 $581,131 10 $581,131 10% $58,113 $976,982 $523,018

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.