accounting queston 1

Accounting
Tutor: None Selected Time limit: 1 Day

i am stuck on the following problem. here is a pic of the problem

http://imgur.com/KpWMMYt

please show all work/how you got the answer

Mar 3rd, 2015

a)

(65000-5000)/5 =12000

straight line depreciation = $12,000

b) Double declining balance 

Year 1 = 40% of value = 0.4*65000 = 26,000

Year 2 = 0.4*39000 = 15,600

Year 3 = 0.4* 23400 =9,360

year 4 = 0.4*14040 =5,616

Year 5 = 0.4*8424 =3,369.6 

Mar 3rd, 2015

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