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5 On January 2, 2019, the Hanover Company purchased some office equipment for $46,000. The...

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Accounting

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5 On January 2, 2019, the Hanover Company purchased some office equipment for $46,000. The equipment is expected to have a useful life of five years and a salvage value of $4,000. Prepare a schedule showing the annual depreciation for each of the first three years of the asset's life under the straight line method, the double-declining-balance method, and the sum-of- the-years-digits method. (Do not round intermediate calculations.) Straight-Line Method Double Declining Balance Method Sum-of-the- Year's Digits Method 2010 2020 2021

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