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NNADVOKAT [17]
3 years ago
9

QUICK ONE!

Business
1 answer:
never [62]3 years ago
3 0

Answer:

Rate is 1.5 times the straight line depreciation rate which is;

= \frac{80,000}{8}

= $10,000 per year

Rate = \frac{10,000}{80,000} * 100%

=12.5%

Reducing balance rate = 12.5% * 1.5

= 18.75%

The Depreciation Schedule would be;

Year   Beginning Book Value  Depreciation Expense   Accumulated Depreciation   Book Value

1  $80,000  80,000*18.75% = $15,000   $15,000   $65,000

2  $65,000  65,000 * 18.75% = $12,1875.50   $27,187.50   $52,812.50

3  $52,812.50  52,812.5 *18.75% = $9,902.34   $37,187.84   $42,910.16

4  $42,910.16  42,910.16 * 18.75% = $8,045.66   $45,233.50   $34,766.50

5  $34,766.50  34,766.50 * 0.1875 = 6,518.72   $51,752.22   $28,247.78

6  $28,247.78  28,247.78 * 0.1875= $5,296.45   $57,048.67   $22,951.33

7  $22,951.33  22,951.33 * 0.1875= 4,403.37   $61,452.04   $18,547.96

8  $18,547.96  18,547.96 * 0.1875 = $3,477.74    $80,000   $0

   $3,477.74 + 15,070.22= $18,574.96      

Depreciation for the last year was not sufficient to take the truck to $0 so the remainder will be depreciated in that year so that it may be completely depreciated.

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