Question

# Marigold Company purchases equipment on January 1, Year 1, at a cost of \$576,870. The asset...

Marigold Company purchases equipment on January 1, Year 1, at a cost of \$576,870. The asset is expected to have a service life of 12 years and a salvage value of \$49,200.

Compute the amount of depreciation for Years 1 through 3 using the straight-line depreciation method. (Round answers to 0 decimal places, e.g. 5,125.)

Depreciation for Year 1 \$

Depreciation for Year 2 \$

Depreciation for Year 3 \$ LINK TO TEXT

Compute the amount of depreciation for each of Years 1 through 3 using the sum-of-the-years'-digits method.

Depreciation for Year 1 \$

Depreciation for Year 2 \$

Depreciation for Year 3 \$ LINK TO TEXT

Compute the amount of depreciation for each of Years 1 through 3 using the double-declining-balance method. (Round depreciation rate to 2 decimal places, e.g. 15.84%. Round answers to 0 decimal places, e.g. 45,892.)

Depreciation for Year 1 \$

Depreciation for Year 2 \$

Depreciation for Year 3 \$

 1) Depreciation expense -Straight line (original cost - salvage value)/useful life (576,870 - 49200)/12 43973 Depreciation for year 1 43973 Depreciation for year 2 43973 Depreciation for year 3 43973 2) Sum of years digit n*(n+1)/2 78 Depreciation for year 1 81180 Depreciation for year 2 74415 Depreciation for year 3 67650 3) double decling rate = 1/12*2 16.67% Depreciation for year 1 96145 Depreciation for year 2 80121 Depreciation for year 3 66767

#### Earn Coins

Coins can be redeemed for fabulous gifts.