Answer and Explanation:
The depreciation schedule is as follows:
<u>For straight-line method</u>
<u>Year Depreciable Depreciation Depreciation Accumul Book value</u>
<u> cost rate Expense Depre</u>
2022 $243,400 25% $60,850 $60,850 $215,150
($276,000 - $32,600) (1 ÷ 4) ($276,000 - $60,850)
2023 $243,400 25% $60,850 $121,700 $154,300
2024 $243,400 25% $60,850 $182,550 $93,450
2025 $243,400 25% $60,850 $243,400 $32,600
$243,400
<u>For double declining method</u>
<u>Year Depreciable Depreciation Depreciation Accumul Book value</u>
<u> cost rate Expense Depre</u>
2022 $276,000 50% $138,000 $138,000 $138,000
(1 ÷ 4 × 2)
2022 $138,000 50% $69,000 $207,000 $69,000
2023 $69,000 50% $34,500 $241,500 $34,500
2024 $34,500 $1,900 $243,400 $32,600
$243,400
