What the annual depreciation value

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Reference no: EM133708326

Question 1. Bob's Umbrella Corporation has purchased equipment for $300,000. The expected useful life is 10 years with $30,000 residual value. Prepare a depreciation schedule showing what the annual depreciation value, accumulated depreciation and book value will be for the next 10 years.
a. Use the straight-line depreciation method.
b. Use the DOUBLE declining balance method.

Question 2. Prepare a Cash Flow Statement using the following information. Tells Corp. shows the following information for 2021: Net Income = $460,000; Depreciation = $240,000; Increase in Accounts Receivable = $60,000; Decrease in Inventory = $100,000; The firm issued $30,700 in new equity during 2016 and borrowed $50,700 in new long-term debt. Tells Corp. also purchased an abandoned manufacturing plant from a competitor in PEI for $200,000.

Reference no: EM133708326

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