Compute the amount of Accumulated deprection for each at December 31, 2008:
1. Use straight-line method
Acquired: 1/1/06
Cost: 98,800
Salvage Value: 7660
Useful life in years: 5
2. Declining balance method (Use double-declining rate)
Acquired: 1/1/06
Cost: 121,130
Salvage Value: 11,690
Useful life in years: 4
3. Units of Activity method
(For the units-of activity method, total miles are expected to be 123,060. Actual miles of use in the first 3 years were: 2007, 26,470; 2008, 35,740; and 2009, 31,570)
Acquired: 1/1/07
Cost: 86270
Salvage Value: 8310
Useful life in years: 5
For answers 1 I got 59,280.00 and for #2 I got 105,988.75 . Please tell me if these are correct and if not please help. I dont know how to do #3
Tags: