b. Double-declining-balance (round to two decimal places) Double-Declining-Balance Method Ending Year Depreciation Book Value Annual 1 $1 2 4 7 8. c. Sum-of-the-years'-digits (round to two decimal...

Extracted text: b. Double-declining-balance (round to two decimal places) Double-Declining-Balance Method Ending Year Depreciation Book Value Annual 1 $1 2 4 7 8. c. Sum-of-the-years'-digits (round to two decimal places) Sum-Of-The-Years'-Digits Method Ending Year Depreciation Book Value Annual 1. 7 8 2. Assuming a seven-year class of property, compute MACRS depreciation expense for each year of the asset's life. 3.


Extracted text: Straight-Line, Declining-Balance, Sum-Of-The-Years'-Digits, and MACRS Methods A machine is purchased January 1 at a cost of $55,000. It is expected to serve for eight years and have a salvage value of $2,000. Required: 1. Prepare a schedule showing depreciation for each of the eight years and the book value at the end of each year using the following methods: a. Straight-line Straight-Line Method Ending Year Depreciation Book Value Annual 1 $1 3 4 7 8. b. Double-declining-balance (round to two decimal places) Double-Declining-Balance Method