If an asset is book depreciated by the DDB (Double Declining Balance) method over a 5-year period, how long will it take to reach its salvage value if the estimated salvage is 24% of the first cost? The time taken to reach the estimated salvage value, (in years) Round off to the nearest three (3) decimal places

If an asset is book depreciated by the DDB (Double Declining Balance) method over a 5-year period, how long will it take to reach its salvage value if the estimated salvage is 24% of the first cost? The time taken to reach the estimated salvage value, (in years) Round off to the nearest three (3) decimal places

Name: QUESTION 6If an asset is book depreciated by the DDB (Double Declinin
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Description: QUESTION 6If an asset is book depreciated by the DDB (Double Declining Balance) method over a 5-year period, how long will it take to reach itssalvage value if the estimated salvage is 24% of the first cost?The time taken to reach the estimated salv

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter18: Accounting For Long-term Assets

Section: Chapter Questions

Problem 3CE

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Ex: H.W. Assets costing $ 24,000 are expected to be used for 10 years and have a salvage value of $ 4,000 at the end of its useful life. Find the payments for depreciation for the third year and the book value at the end of the third year using previous depreciation methods. اصول كلفها 0 0 240$ يتوقع أن تستعمل لمدة 10 سنوات ولها قيمة انقاض 0 0 40$ في نهاية الفترة. اوجد المدفوعات الخاصة بالاندثار ل لسنة الثالثة والقيمة الدفترية في نهاية السنة الثالثة مستعما طرق الاندثار السابقة.
What is the depreciation deduction, using 200% DB method, after year 2 for an asset that costs $57007 and has an estimated salvage value of $7,000 at the end of its 6-year useful life? Round your answer to 2 decimal places. Add your answer