How to find accumulated depreciation? PLEASE SHOW WORK Required information (The

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How to find accumulated depreciation? PLEASE SHOW WORK

Required information (The following information applies to the questions displayed below.] In early January 2017, NewTech purchases computer equipment for $263,000 to use in operating activities for the next four years. It estimates the equipment's salvage value at $24,000 Prepare a table showing depreciation and book value for each of the four years assuming double-declining-balance depreciation. (Enter all amounts positive values.) Depreciation for the Period End of Period Beginning-Year Depreciation Annual Depreciation Depreciation Book Value Accumulated Year-End Year Book Value Rate 2017$ 2018 2019 2020 Total 263,000 131,500 65,750 32,875 50%) $ 131,50of $ 50% 50% 50% 131,50of $ 131,500 65,750 32,875 65,750 32,875 $ 230,125

Explanation / Answer

Depreciation for the Period End of Period Equipment Cost 263000 Year Beginning Year Book Value Depreciation Rate Annual Depreciation Accumulated Depreciation Year End Book Value Salavage Value 24000 2017 263000 50.00% 131500 131500 131500 Net Value 239000 2018 131500 50.00% 65750 197250 65750 2019 65750 50.00% 32875 230125 32875 Life 4 Year 2020 32875 50.00% 32875 263000 0 Total 263000 Rate 1/Life 1/4 Rate 25.00% Double Rate 50.00%

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