ACC 202 - Assignment: Obj 10-2 Depreciation Methods

Straight-Line Depreciation

Equipment acquired at the beginning of the year at a cost of $32,900 has an estimated residual value of $2,400 and an estimated useful life of five years. Determine the following:

A tractor acquired at a cost of $275,000 has an estimated residual value of $39,000, has an estimated useful life of 40,000 hours, and was operated 2,660 hours during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places.

Double-Declining-Balance Depreciation

Equipment acquired at the beginning of the year at a cost of $77,200 has an estimated residual value of $3,100 and an estimated useful life of five years. Determine the following.

Revision of Depreciation

A warehouse with a cost of $514,700 has an estimated residual value of $63,200, has an estimated useful life of 35 years, and is depreciated by the straight-line method.