1 Determine the annual declining-balance depreciation rate to be used for each of th

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1 Determine the annual declining-balance depreciation rate to be used for each of the following:

a. 150% declining balance, 12-year life

b. 200% declining balance, 8-year life

c. 125% declining balance, 5-year life

d. 200% declining balance, 5-year life

2 What fraction is to be used each year for sum-of-the-years-digits depreciation for an asset with a useful life of 4 years?

3 For which depreciation method(s) is salvage value not subtracted to calculate depreciation?

4 Lopez Construction Company purchased construction equipment for $116,000 at the beginning of the year. Itis estimated that the equipment will have a useful life of 12 years and will have a scrap value of $8,000.

a. Calculate the annual depreciation if Lopez uses straight-line depreciation.

b. Calculate the book value of the equipment at the end of 5 years, assuming that Lopez uses straight-linedepreciation.

c. Compute the depreciation for the first year ending December 31 if Lopez purchased the equipment

September 1.

d. Determine the depreciation per hour if Lopez uses the straight-line method based on 120,000 hours ofuseful life and an $8,000 scrap value.

e. Using the rate determined in (d), what is the depreciation for the year if the equipment is used for 2,360 hours?

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