Prepare a depreciation schedule showing net book value

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Reference no: EM13776581

Prepare a depreciation schedule: Z Company’s fiscal year starts July 1st and ends June 30th. The company purchased a new machine which was installed and operational at the beginning of the second quarter in October. The machine cost $145,800 and has an estimated useful life of three years and estimated salvage value of $5,400.

Required:

1. Prepare a depreciation schedule showing Net Book value (beginning and ending), depreciation expense, and accumulated depreciation for the asset. Prepare one schedule for each method:

a. Straight-line

b. Double-declining balance.

Reference no: EM13776581

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