Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. if the salvage value was decreased for asset 1002,

If the salvage value was decreased for Asset 1002, what affect would there be on...

60.1K

Verified Solution

Question

Accounting

If the salvage value was decreased for Asset 1002, what affect would there be on depreciation expense? What affect on the Accumulated Depreciation

Small Builders, Inc. Depreciation Schedule
Asset # 1001 IF=(condition, value if true, value if false) - Cell G12
Asset Display Cases IF=[condition, value if true, value if false(condition, value if true, value if false)] - Cells G13-G16
Date acquired 1/1/2015 X should switch
Cost $ 15,000.00 - do not switch
Depreciation method DDB
Salvage value
Estimated useful life 5
Year Depreciation Expense Accumulated Depreciation Straight-Line Test Switch* Depreciation Expense Accumulated Depreciation
2015 $6,000.00 $6,000.00 $3,750.00 - 6000 $6,000.00
2016 $3,600.00 $9,600.00 $2,250.00 - 3600 $9,600.00
2017 $2,160.00 $11,760.00 $1,800.00 - 2160 $11,760.00
2018 $1,296.00 $13,056.00 $1,620.00 X 1620 $13,380.00
2019 $777.60 $13,833.60 $1,944.00 X 1620 $15,000.00

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

1.) During Phloem transport, which of the following occur at, or close to the SINK? Select...

Chemistry
1.2K views

1a. When a solid dissolves in water, heat may be evolved or absorbed. The heat of...

Physics
1.2K views

Two speakers, A and B, are at the same point on an x-axis and each emits...

Psychology
1.2K views

Behavioural problems arise when an individual’s perceived reality does not match objective reality. Examine the implications of...

Psychology
1.2K views

Jane is a 69-year-old black, married, retired female who lives with her husband. She was referred...

Accounting
1.2K views

                                                Williams                                               Roberts Cash                                      160,000                                                 50,000 Inventory                            550,000                                                 160,000 Equipment                          1,500,000                                             670,000       Totals                             2,210,000                                             880,000 Totals Liabilities 740,000 280,000 c/s $20 par                          600,000                                                 300,000 other contr cap                 375,000                                                 105,000 retained earnings             495,000                                                 195,000        totals                             2,210,000                                             880,000 inventory has a FMV of 170,000 for Roberts and the...

Physics
1.2K views

12 x m 24 6 8 10 12 14 16 18 20 22 t sec...

Basic Math
1.2K views

4a 2 marks Series Sequence Mia baked a very large apple pie that she cuts...

Algebra
1.2K views

You are considering a movie club membership The company charges 2 per movie that you...

Finance
1.2K views

A company had 158 million shares outstanding at the beginning of the year 2012. On...

Finance
1.2K views

The current risk-free rate is 2 percent and the market risk premium is 3 percent....

Accounting
1.2K views

Company A repurchased the bond which had been issued many years ago. It has a...