Compare spreadsheet solution to answer to the given problems

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Reference no: EM131517722

Question: Modify the spreadsheet in Sidebar 5-3 to handle recovery periods up to 10 years. Test your spreadsheet by entering the data from Problems I through II. Compare your spreadsheet's solution to the answer to these problems.

Problems I: A piece of equipment is purchased for $110,000 and has an estimated salvage value of $10,000 at the end of the recovery period. Prepare a depreciation schedule for the piece of equipment using the 200% declining balance method with a recovery period of seven years.

Problems II: A piece of equipment is purchased for $40,000 and has an estimated salvage value of $1,000 at the end of the recovery period. Prepare a depreciation schedule for the piece of equipment using the 150% declining-balance method with a recovery period of five years.

Reference no: EM131517722

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