ACC 305 Week 5 Problem E11-5, E11-10

Apr 28th, 2015
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ACC 305 Week 5 Problem E11-5, E11-10

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E11-5 (page 599) - Depreciation methods; solving for unknowns LO2For each of the following depreciable assets, determine the missing amount (?). Abbreviations for depreciation methods are SL for straight line, SYD for sum-of-the-years digits, and DDB for double-declining balance.Exercise 11-5Asset A:Straight-line rate is 20% (1 5 years) x 2 = 40% DDB rate$24,000 = $60,000 = Book value at the beginning of year 2 .40Cost - (Cost x 40%) = $60,000.60Cost = $60,000Cost = $100,000Asset B:Sum-of-the-years digits is 36 {[8 (8 + 1)]2}($40,000 - residual) x 7/36 = $7,000$280,000 7residual-------------------------- = $7,000 36$280,000 - 7residual = $252,0007residual =$28,000Residual =$4,000Asset C: $65,000 - 5,000 = $6,000 LifeLife = 10 yearsAsset D:$230,

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