Calculate the depreciation expense

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Sugarland Corporation started a business on January 1 with the following long-lived fixed assets:

  • A 10,000 square foot office building purchased for $2.4 million, having an expected useful life of 20 years and a residual value of $200,000
  • 20 desktop workstations costing $1,500 each, with an expected useful life of three years and no salvage value
  • 4 delivery trucks costing $20,000 each, with an expected useful life of five years and a salvage value of $2,000 each

How do I Calculate the depreciation expense for each of the long-lived fixed assets for Years 1 and 2 using the straight-line depreciation method.

How do I Calculate the depreciation expense for each of the long-lived fixed assets for Years 1 and 2 using the double-declining balance method.

How can I Determine the net book value for each long-lived fixed asset at the end of Year 2 using:

a straight-line depreciation?

b double-declining-balance?

Reference no: EM132203867

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