Exercise 11-6 Depreciation methods; partial periods (LO11-2] On April 30, 2018, Quality Appliances purchased equipment...
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Exercise 11-6 Depreciation methods; partial periods (LO11-2] On April 30, 2018, Quality Appliances purchased equipment for $271,000. The estimated service life of the equipment is six years an the estimated residual value is $19,000. Quality's fiscal year ends on December 31. Required: Calculate depreciation for 2018 and 2019 using each of the three methods listed. Quality calqulates partial year depreciation based o the number of months the asset is in service. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.) Answer is complete but not entirely correct. 2018 2019 Straight-line Sum-of-the-years $ 48,240 digits Double-declining balance $ 28,000 42.000 $ 60.216 70,254
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