Sandblasting equipment acquired at a cost of 64000 has an

Reference no: EM13602030

Sandblasting equipment acquired at a cost of $64,000 has an estimated residual value of $4,000 and an estimated useful life of eight years. It was placed in service on April 1 of the current fiscal year, which ends on December 31.

a. Determine the depreciation for the current fiscal year and for the following fiscal year by straight-line method.
Depreciation
Year 1 ? $
Year 2 ? $

b. Determine the depreciation for the current fiscal year and the following fiscal year by the double-declining-balance method.
Depreciation
Year 1 ? $
Year 2 ? $

Reference no: EM13602030

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