Homework Answers
1. Straight line Depreciation = (Original Value - Salvage Value)
/ Useful life
= ($180000-30000)/5 = $30000 per year
2. Double Declining Balance Depreciation = Beginning Book Value
x 2 times straight line rate
Straight line rate = 1/5 = 20%
| Year | Beginning Book Value | Depreciation | Ending Book Value |
| 1 | $ 1,80,000 | $ 72,000 | $ 1,08,000 |
| 2 | $ 1,08,000 | $ 43,200 | $ 64,800 |
| 3 | $ 64,800 | $ 25,920 | $ 38,880 |
| 4 | $ 38,880 | $ 8,880 | $ 30,000 |
| 5 | $ 30,000 | $ - | $ 30,000 |
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