Answer:
$200,000
$400,000
$373,333
$454,493
Explanation:
Land is not depreciated. Only the building would be depreciated
Straight line depreciation expense = (Cost of asset - Salvage value) / useful life
$6,000,000 / 30 = $200,000
Depreciation expense using the double declining method = Depreciation factor x cost of the asset
Depreciation factor = 2 x (1/useful life)
Book value in year 1 = Cost of asset - Depreciation expense of year 1
Book value in year in subsequent years = previous book value - that year's depreciation expense
Depreciation expense in 2019 = (2/30) x $6,000,000 = $400,000
Book value in 2020 = $6,000,000 - $400,000 = $5,600,000
Depreciation expense in 2020 = (2/30) x $5,600,000 = $373,333
