On April 30, 2018, Quality Appliances purchased equipment for $260,000. The estimated service life of...
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Accounting
On April 30, 2018, Quality Appliances purchased equipment for $260,000. The estimated service life of the equipment is six years and the estimated residual value is $26,000. Quality's fiscal year ends on December 31. Required: Calculate depreciation for 2018 and 2019 using each of the three methods listed. Quality calculates partial year depreciation based on the number of months the asset is in service. (Do not round intermediate calculations. Round your final answers to nearest whole dollar) 2018 2019 $ 26,000 39,000 1. Straight-line 2. Sum-of-the-years'-digits 3.Double-declining balance
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