Kingbird Company purchased a new plant asset on April 1, 2017, at a cost of...
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Accounting
Kingbird Company purchased a new plant asset on April 1, 2017, at a cost of $867,420. It was estimated to have a service life of 20 years and a salvage value of $73,200. Kingbirds accounting period is the calendar year.
Compute the depreciation for this asset for 2017 and 2018 using the sum-of-the-years'-digits method. (Round answers to 0 decimal places, e.g. 45,892.)
Depreciation for 2017 $ Depreciation for 2018 $
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Compute the depreciation for this asset for 2017 and 2018 using the double-declining-balance method. (Round answers to 0 decimal places, e.g. 45,892.)
Depreciation for 2017 $ Depreciation for 2018 $
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