Question

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A contractor purchased a tractor for $150,000 and anticipates using it for 3 years. The salvage value of the tractor at the end of the 3 years is estimated to be $3,000. Complete the following table (two decimal places). Use the 200% Declining Balance Method.

A contractor purchased a tractor for $150,000 and anticipates using it for 3 years. The salvage value of the tractor at the end of the 3 years is estimated to be $3,000. Complete the following table (two decimal places). Use the 200% Declining Balance Method.

Answer 1

AnBwe) Given da ta Purchased Value of tYado, -50,00 0 Slvage Value$300 Colculale thedetnn balance a fe Suule the Valueg 00 3 depie Ciatian amunt arles lyeat Cula e 5000D 3 00,000 Hene depieciartien amoun calcakfe the boo k Value after lyeat 50000 looooo.

50,000 Hone, boo k Value alles yeas s50,000]. Calculate the depieciatien amoun! afles o 33,333 33 Hence, depreciation amounl afle eas i3 9,33-33 akalale the book alue aerea :50,000- 33,93.33 16666 61 Hen te, bosk Value alfe Hea i166 cala tale the depecialion amounld ater Seaf Car 2- X16666 67 Hence depretiation Omou ook V aftex 3 Heas Calcula

3) 16666.6 7-[ỉ,lif.// 5,555 55 Hence, book Value ao 3ea is l ,535-55