Use the Dynamic Exhibit to answer the following questions. Fill in depreciation expense in year 3 under each depreciation method when residual value…

by | Jun 19, 2022 | accounting

Use the

Dynamic Exhibit

to answer the following questions.


1.

Fill in depreciation expense in year 3 under each depreciation method when residual value is $30,000 and useful life is 3 years:


Depreciation method

  1. Straight-line __________
  2. Units-of-Output __________
  3. Double-declining __________


2.

Fill in the book value at the end of year 1 under each depreciation method when residual value is $36,000 and useful life is 4 years:


Depreciation method:

Straight-line ________

Units-of-Output __________

Double-declining

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