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Question 4 of 6 -/2 Bonita Company acquired a plant asset at the beginning...

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Accounting

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Question 4 of 6 -/2 Bonita Company acquired a plant asset at the beginning of Year 1. The asset has an estimated service life of 5 years. An employee has prepared depreciation schedules for this asset using three different methods to compare the results of using one method with the results of using other methods. You are to assume that the following schedules have been correctly prepared for this asset using (1) the straight-line method, (2) the sum-of-the-years-digits method, and (3) the double-declining-balance method. Year 1 2 3 4 5 Total Straight-Line $10.620 10,620 10,620 10620 10,620 $53.100 Sum-of-the- Years'-Digits $17.700 14.160 10,620 7.080 3.540 $53.100 Double- Declining Balance $23,600 14,160 8,496 5.098 1.746 $53.100 Answer the following questions (a) What is the cost of the asset being depreciated! Cost of asset 5

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