please help me by filling in the tables below StraightLine M

please help me!

by filling in the tables below Straight-Line Method Method

Solution

1 Straight line depreciation = (Cost of asset - salvage value )/ Life of the asset Depreciation expense = (60000-5000) /4 13750 Depreciation expense Accumulated depreciation Book value Year 0 0 60000 Year 1 13750*12/12 13,750 13,750 46,250 Year 2 13750*12/12 13,750 27,500 32,500 Year 3 13750*12/12 13,750 41,250 18,750 Year 4 13750*12/12 13,750 55,000 5,000 1 Cost of Machine 60000 Less Salvage value 5000 Depreciable asset 55000 Depreciation using sum of digit method where life of asset = 4 years Sum of digits = n(n+1)/2 = 4(4+1)/2 10 Depreciation expense Accumulated depreciation Year 1 Depreciation = 55000*4/10 22000 22000.00 Year 2 Depreciation = 55000*3/10 16500.00 38500.00 Year 3 Depreciation = 55000*2/10 11000.00 49500.00 Year 4 Depreciation = 55000*1/10 5500.00 55000.00 3 Units of production method Depreciation per item = (Cost of asset - salvage value )/ total miles Depreciation per item = (60000 - 5000 )/25000 Depreciation per hour 2.2 Depreciation expense Depreciation expense Accumulated depreciation Year 1 2.2*8000 17600 17600 Year 2 2.2*7000 15400 33000 Year 3 2.2*5000 11000 44000 Year 4 2.2*5000 11000 55000