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Prepare a depreciation schedule for five years

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Reference no: EM133015525

Question - Depreciation - On Oct 1, 2019, Alco Industries purchased new equipment at a cost of $525,000. Useful life of this equipment was estimated at 5 years, with a scrap value of $25,000. The accounting period ends each year at December 31. The company policy is to charge depreciation from the month of purchase. Prepare a depreciation schedule for 5 years under the following methods:

(a) Straight-line method

(b) Double declining method, with the half year convention.

Reference no: EM133015525

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