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need help with salvage value X CH 11 HW Required Current Attempt in...

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need help with salvage value

X CH 11 HW Required Current Attempt in Progress Oriole 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. Sum-of-the- Years'-Digits Double- Declining- Balance Year Straight-Line $21,000 $28,000 16,800 16,800 $12,600 12,600 12,600 12,600 12,600 10,080 8,400 6,048 12,600 4,200 2,072 Total $63.000 $63,000 $63,000 Answer the following questions. Cost of asset $ e Textbook and Media X Your answer is incorrect. What amount, if any, was used in the depreciation calculations for the salvage value for this asset? Salvage value $ 51200 e Textbook and Media Your answer is correct. VA TALL - LL. ......... ....ALL

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