DEPRECIATION OF FIXED ASSETS: ASSET INFO: use the following information for all of the depreciation related questions that follow. Keeping Kids Active Company, Inc makes playground balls for children....

Extracted text: DEPRECIATION OF FIXED ASSETS: ASSET INFO: use the following information for all of the depreciation related questions that follow. Keeping Kids Active Company, Inc makes playground balls for children. KKAC, Inc purchased and began using (placed in service) a piece of equipment to help the company make the balls on September 1, 2020. The equipment cost $56,000 to purchase, $4,000 for delivery and installation (combined). At the time of purchase, KKAC estimates this equipment will be used for 4 years and have a salvage value of $6,00O. KKAC expects to make 250,000 playground balls in total with this equipment. *** Determine the Asset Cost (acquisition cost) of this asset. Show your calculations on your PDF upload.


Extracted text: DEPRECIATION METHODS - Double Declining Balance: Referring to the same Equipment described above: What is the Depreciation Rate KKAC should use for calculating depreciation for this equipment using the DDB method? Show your work on the PDF upload.