I CAN NOT SOLVE PART B of this problem. Only the boxes with --> arrow allow me t

Question

I CAN NOT SOLVE PART B of this problem. Only the boxes with --> arrow allow me to put numbers and rest of number comes up automatically.
Please help!
Thank you! ice purchased a new computer system on January 1, 2018, for $40,000, It is expected to have a five-year useful ker Office Service expects to use the computer system more extensively in the early years of life and a $5,000 salvage value. Bec its life Required a. Calculate the depreciation expense for each of the five years, assuming the use of straight-line depreciation. Year Cost Salvage Useful Annual Depreciation 1 s 40,000 s15000 7,0001 per year S 7.000 S 7000 b. Calculate the depreciation expense for each of the five years, assuming the use

Explanation / Answer

a) Straight line method dep :

b) Double decline balance :

d) Calculate gain or loss :

Year Cost Salvage value Useful life Annual dep Accumlated dep Book value at year end 1 40000 5000 5 7000 7000 33000 2 7000 14000 26000 3 7000 21000 19000 4 7000 28000 12000 5 7000 35000 5000

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