An asset for drilling was purchased and placed in service by a petroleum production company. Its cost basis is s50,000, and it has an estimated MV of $14,000 at the end of an estimated useful life of 15 years. Compute the depreciation amount in the second year and the BV at the end of the third year of life by each of these methods: a. The SL method. b. The 200% DB method with switchover to SL. c. The GDS. d. The ADS. SL Click the icon to view the partial listing of depreciable assets used in business Click the icon to view the GDS Recovery Rates (k).

1.77K views
0
0 Comments

An asset for drilling was purchased and placed in service by a petroleum production company. Its cost basis is s50,000, and it has an estimated MV of $14,000 at the end of an estimated useful life of 15 years. Compute the depreciation amount in the second year and the BV at the end of the third year of life by each of these methods: a. The SL method. b. The 200% DB method with switchover to SL. c. The GDS. d. The ADS. SL Click the icon to view the partial listing of depreciable assets used in business Click the icon to view the GDS Recovery Rates (k). a. Using the SL method the depreciation amount in the second year is $ 2400. (Round to the nearest dollar.) Using the SL method the BV at the end of the third year of life is $42800. Round to the nearest dollar.)

b. Using the 200​% DB method the depreciation amount in the second year is?

Using the 200​% DB method the BV at the end of the third year of life is?

c. Using the GDS the depreciation amount in the second year is?

Using the GDS the BV at the end of the third year of life is?

d. Using the ADS the depreciation amount in the second year is?

Using the ADS the BV at the end of the third year of life is?

1 Answer

0
Darshita6.14K 0 Comments

Purchase answer in just $2

ask for the request in below link

http://www.smartstudyhelp.com/contactus.html

Contact us today

Ask for our academic services

Copyright SmartStudyHelp 2016. All Rights Reserved

Mail Us : [email protected]